RBA reluctant to raise interest rates to ease soaring house prices because it could cost jobs – The Guardian

HousingReserve Bank deputy governor Guy Debelle says the rising property market is encouraging spending and economic growth
The Reserve Bank of Australia will not raise interest rates to ease soaring house prices because tightening monetary policy could cost jobs, the deputy governor has said.
In a speech on monetary policy during the Covid crisis, Guy Debelle noted house price growth was encouraging spending. He argued to the extent it was a distributional problem which can affect inequality it…

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