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High house prices not our problem: RBA – The Australian Financial Review

The RBA will not intervene to curtail house prices, with the bank’s deputy governor arguing other tools were available to governments to address equity issues.



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Unemployment clearly has large and persistent distributional consequences.
While he did not name the tools, economists routinely point to the tax treatment of housing, state and local land release and zoning policies, and home loan rules imposed by the Australian Prudential Regulation Authority.
On monetary policy, the bank will consider at its July meeting whether to extend or taper its 0.1 per cent three-year yield curve target and $200 billion bond purchase program.
Dr Debelle said the future…

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