SYDNEY, Aug 17 (Reuters) - Reserve Bank of Australia (RBA) governor Philip Lowe said on Friday he was incredibly disappointed and appalled at the behaviour of the country's banks revealed by an ongoing high-power inquiry into financial sector misconduct.
The Royal Commission inquiry has unearth a series of malpractices and predatory behaviour at Australian banks, hitting their shares and leading to board or senior management shake-ups.
Lowe, who was speaking before an economics committee in parliament, said the inquiry has had some effect on the supply of loans as banks tighten their lending standards in response.
