Australia’s latest economic stimulus: Easing bank lending rules

 Australia on Friday said it would simplify bank lending rules to free up credit in a bid to stimulate the economy, which slid into its first recession in nearly 30 years due to the coronavirus pandemic.

The changes will ease the regulatory burden and reduce the cost and time faced by consumers and small businesses seeking to access credit, Federal Treasurer Josh Frydenberg said.

“The flow of credit will be absolutely critical to our economic recovery,” Frydenberg told reporters in Canberra.

Read more: https://www.aljazeera.com/economy/2020/9/25/australias-latest-economic-stimulus-easing-bank-lending-rules