Also if the lending criteria are tightening then only the rich are going to be able to borrow.
This increases the concentration of wealth and disparity between asset holders and non asset holders, particularly real estate.
The whole thing is a bit of an unholy mess, I can't see the RBA coming out of this looking very good.
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- Will the RBA be able to keep banks afloat as fixed loans switch to variable?
Will the RBA be able to keep banks afloat as fixed loans switch to variable?, page-2
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