does the reserve bank of australia play any part in the way banks give loans to people?
this might seem like a ridiculous question to some of you buttt,
you know how recently many banks have been giving stupidly massive loans to people who have no way of paying it back and everything?
wouldnt mortgage stress be greatly reduced if banks just started giving reasonable loans to people? and how could the reserve bank help in creating a policy like this?
- 1 decade agoFavorite Answer
No. I don't think so.
They only change the interest rate that we have to pay. I think banks would stop if they were smart enough.