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Message From Australia’s Largest Mortgage Lenders: Don’t Worry

By Tony Seruga

David Craig

David Craig, chief financial officer of Commonwealth Bank of Australia.

Photographer: Brendon Thorne/Bloomberg

Australia’s largest mortgage lenders have a message for those fretting about a potential property-market implosion: Don’t worry.

Commonwealth Bank of Australia’s Chief Financial Officer David Craig said Wednesday that his bank’s home borrowers are well placed to weather rising interest rates. And in a separate interview on Tuesday, National Australia Bank Ltd. CFO Craig Drummond downplayed the risk of a sharp downturn in property prices. Both executives highlighted the country’s strong employment levels as a key support for home borrowers and thus the wider property market…

Message From Australia’s Largest Mortgage Lenders: Don’t Worry

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