Bank chief throws support behind regulations to ease investor demand

by Adam Smith17 Nov 2014
One bank chief has broken ranks and endorsed the idea of new regulations to cool the property market.

Bendigo and Adelaide Bank CEO Mike Hirst has expressed approval for the use of macroprudential tools to cool investor demand in the property market, Fairfax has reported.

"I think it is well worth considering more targeted responses if you don't want to impact the broader economy too heavily," Hirst said.

Hirst argued that the global economy was "just limping along", and that drastic action could be required.

"Because we're in that situation, however, a few countries have taken a new approach through quantitative easing, for example. Given that fact it is reasonable for regulators to look at new ways of countering the unintended consequences of that."