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By Byron Kaye
SYDNEY (Reuters) - The CEOs of Australia's two biggest banks said on Thursday a tight labour market was keeping late home loan repayments below historic levels even after a year of rising interest rates, but warned that living costs would squeeze the economy through 2023.
The updates from Commonwealth Bank of Australia and Westpac gave a sense that the A$2 trillion ($1.4 trillion) mortgage market, a bedrock of the world's thirteenth largest economy, may avoid a downturn that econ...
>>> Read more: Australian banks say low unemployment is buffering home loans
SYDNEY (Reuters) - The CEOs of Australia's two biggest banks said on Thursday a tight labour market was keeping late home loan repayments below historic levels even after a year of rising interest rates, but warned that living costs would squeeze the economy through 2023.
The updates from Commonwealth Bank of Australia and Westpac gave a sense that the A$2 trillion ($1.4 trillion) mortgage market, a bedrock of the world's thirteenth largest economy, may avoid a downturn that econ...
>>> Read more: Australian banks say low unemployment is buffering home loans
