The Reserve Bank’s decision to end a special cheap funding facility for banks is effectively creating a rush to lend, fuelling Australia’s property boom.
Australia’s banks are eligible to access around $190 billion of cheap three-year funding from the RBA’s Term Funding Facility, but they must access it all by the end of June.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
