RBA Stevens still going:
- Macro-prudential tools may be a useful adjunct
- Is cautious on implementing
- Most effective tool may be stricter bank loan tests
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Deputy governor Lowe:
- Macro-prudential tools can create costly distortions
- Unlikely to be a silver bullet
Philip Lowe is the Deputy Governor of the Reserve Bank of Australia, also Deputy Chairman of the Reserve Bank Board, and is Chairman of the Reserve Bank’s Risk Management Committee.
