Australia’s election has now been won and run, delivering a surprise return for the ruling Liberal-National Party Coalition. The Reserve Bank of Australia (RBA) is also likely to cut official interest rates in the months ahead, potentially as soon as March. APRA, Australia’s banking regulator, has also flagged a likely easing in mortgage lending standards, acknowledging that it’s considering scrapping the minimum 7% serviceability rate that all new loan applicants are assessed on. Income tax cuts are also on the way, when they eventually become legislated when Australia’s parliament returns. After a steep slowdown in the … (full story)

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