A top Australian central banker on Monday said stress in the global banking system was mainly confined to a small number of poorly managed banks and was just one of many considerations for domestic monetary policy. | Reuters
Kent said the RBA was not involved in the dollar liquidity operations announced by the Federal Reserve and several other major central banks on Sunday, but that he had been in touch with his counterparts abroad.
Earlier in a speech, Kent said the Australian banking system was “unquestionably strong” with capital levels well above those required by regulations. “This means that it’s likely to take longer than usual to see the full effect of higher interest rates on household cash flows and household spending,” said Kent.
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