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ANZ backs tough rules to cool housing
ANZ bank's Australian boss, Phil Chronican, says tougher credit rules for banks may be a ''sensible'' option if house price growth becomes unsustainable, though the property market is currently nowhere near that point. Amid a debate over the rising housing market, Mr Chronican acknowledged property prices were ''undoubtedly high relative to many other markets'' and expensive compared with other assets. While he believed concern of a housing bubble was ''overstated'', he said that if prices surged for several years there may be a case for ''macroprudential'' policies. These are measures designed to decrease the level ... (full story)
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