SYDNEY, July 23 -- Australian Prudential Regulation Authority issued the following media release:
The Australian Prudential Regulation Authority (APRA) will keep its macroprudential policy settings steady following its latest review of domestic and international financial conditions and risks.
APRA's macroprudential policy tools are aimed at mitigating financial stability risks at a system-wide level to promote a safe and stable financial system that enables households and businesses to confidently borrow, save and invest for the future.
In deciding to keep its settings on hold, APRA took account of high levels of household debt and above-average total credit growth, which is expected to rise further as interest rates decline. Lower infl...