The (RBA’s) problem is we’re all too rich
by James Thomson · Australian Financial ReviewJames ThomsonColumnist
May 9, 2026 – 5.00am
On Tuesday morning, just a few hours before the Reserve Bank of Australia lifted official interest rates for the third consecutive time, Westpac chief executive Anthony Miller reassured analysts that his home loan customers were well-placed to weather further rate hikes; 86 per cent are ahead on their mortgages.
The numbers are similar across the big four banks, who have increasingly skewed their lending to wealthier Australians in the wake of the banking royal commission and the strengthening of responsible lending laws.
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James ThomsonColumnistJames Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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