Australian banks have ‘too much money’, more may be on the way – Bangkok Post

SYDNEY: Australia’s banking system has more money than it can use, a challenge that will likely grow next week with the central bank widely expected to trim interest rates to near zero and boost the amount of bonds it buys.
With the country trying to emerge from a Covid-induced recession, fiscal and monetary authorities have pumped billions of dollars in cash into the economy, cut interest rates to a record low and introduced a wage subsidy scheme.
Further measures to spur credit demand are on the…

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