Borrowers 'waiting for more rate cuts'
Oct 07, 2012 (Menafn - The Australian Financial Review - ABIX via COMTEX) --Bank of Queensland CEO Stuart Grimshaw argues that the succession of official cash interest rate cuts by the Reserve Bank of Australia (RBA) have not yet sparked increased willingness by consumers to take on mortgage loans. However, the outlook is improving, as indicated by the growth in the share of borrowers opting for fixed-rate loans to 30%. This compares with a long-term average of just 10%. Grimshaw also sees a positive effect on default rates. He applauds the Australian Prudential Regulation Authority as well.
Publication Date: 8 October 2012
BANK OF QUEENSLAND LIMITED - ASX BOQ
RESERVE BANK OF AUSTRALIA
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY
BANK FOR INTERNATIONAL SETTLEMENTS.BASEL COMMITTEE ON BANKING SUPERVISION
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