Reserve Bank of Australia's Marion Kohler, Head of Domestic Markets, speechto the Australian Financial Markets Association,

On the headline, a lot of small business borrowings since the start of the crisis have been to cover cashflow deficits.

More headlines:

  • policy measures to date broadly achieved what bank set out to do
  • says home loan applications have risen in recent months
  • rising level of housing loan applications consistent with large vol of refinancing activity of late
  • says package of monetary policy measures has worked to lower the interest rates paid by borrowers on their loans
  • says lending to small, medium businesses little changed since onset of pandemic
  • banks more cautious about lending to businesses