Reserve Bank deputy governor Philip Lowe spoke on Tuesday evening in Australia (Ryan had the headlines as they hit, here:
RBA’s Lowe says low rates in Australia needed to help balance economy).
The Australian Financial Review has an extended piece up on Lowe’s speech (Lowe’s speech was at the Commonwealth Bank’s 7th Annual Australasian Fixed Income Conference, “Investing in a Low Interest Rate World”):
- Warned property investors they are taking on risks when prices are already high and growth in rents has slowed
- Said the Reserve Bank & bank regulators had come to the conclusion parts of the housing market had become “somewhat unbalanced”
- Expressed frustration that genuine growth-generating investment remains weak even after almost six years of record-low global interest rates
There is more at the Australian Financial Review article, it is ungated: RBA issues fresh risk warning to property investors
RBA Deputy Governor Philip Lowe. His “blue steel” needs work
