The RBA and APRA seem to be washing their hands of responsibility for skyrocketing house prices. But we think the likely surge in credit growth in the months ahead means that APRA will be forced to impose macroprudential restrictions before long. If the housing and labour markets continue to boom, that would be a risk to our forecast that the RBA will extend its QE purchases this year.
Our Singapore office will be closed on 02 April 2021 for Good Friday, and we are sending the Weekly earlier than normal.
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