Australia’s largest mortgage lenders have a message for those fretting about a potential property-market implosion: Don’t worry. Commonwealth Bank of Australia’s Chief Financial Officer David Craig said Wednesday that his bank’s home borrowers are well placed to weather rising interest rates. And in a separate interview on Tuesday, National Australia Bank Ltd. CFO Craig Drummond downplayed the risk of a sharp downturn in property prices. Both executives highlighted the country’s strong employment levels as a key support for home borrowers and thus the wider property market. The two banks are well placed to comment on Australian property market trends as together...
↧