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StumbleuponThe International Monetary Fund (IMF) has said that central banks such as the Reserve Bank of Australia (RBA) can have a role in tackling unsustainable property bubbles as well as stemming credit growth.
A newly released working paper from the IMF showed that monetary policy and prudential regulation can help stave off house price bubbles.
The report read, "There are potential benefits from aggressive monetary policy reactions to financial shocks that would otherwise generate a cycle of loosening credit conditions, overvalued housing and over-extended house holds."
According to The Australian Financial Review, the head of the RBA's economic analysis department said in September that there was a risk that the country might move towards undesirably strong growth in housing prices as rising demand for homes triggered by population increases was not being matched by new home builds.
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