RBA’s Debelle Says Banks’ Mortgage Rate Moves Don’t Affect Overall Policy

Reserve Bank of Australia Assistant Governor Guy Debelle said decisions by the nation’s four biggest banks to raise mortgage rates independent of the central bank’s benchmark rate don’t affect monetary policy on the whole.

Speaking today at a Bloomberg conference in Sydney, he said the important issue is the “general direction” of monetary policy.

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editor responsible for this story: Brendan Murray at brmurray@bloomberg.net

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