It's been a big week of news with the OCR and MPS today, plans to change the Reserve Bank's policy targets and of course Westpac's results.
Added to that we have had the fourth bank chief executive announce his retirement. As someone said to me, "maybe they know something we don't?"
I'm not sure that is true, but it was interesting talking to Westpac chief executive David McLean this week on his thoughts on the housing market.
And following on from last week's theme, The Importance of Mortgage Advice, it was useful to hear his thoughts on what's happening in your space.
You can read what he says in this piece. It is full of useful observations.
We will have more from bank bosses next week on so-called credit rationing and future distribution trends.
I have two questions today and the first is: Do you think banks have been "rationing credit?" You can send your thoughts here
My second question is actually more a request for information. We are working on a piece on construction lending and would like to talk with advisers who do a lot of these loans. If that is you (and you'd like to help) please send me an email.
- Philip Macalister
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