RBA Governor Michele Bullock has hit back at suggestions from the Greens that the central bank is responsible for Australia's skyrocketing house prices in a tense parliamentary hearing.

In an appearance at Senate estimates this morning, Bullock was questioned by Greens senator Nick McKim about the Reserve Bank's role in the housing crisis.

"The $400 billion that the RBA printed in the early year or two of COVID and effectively handed over to retail banks, who then turn around and lend it into the property market, do you accept that that played a role in the housing price bubble that we've seen over the last five years?" McKim asked.

"Certainly part of the way monetary policy works is through the housing market, but I would not accept that the Reserve Bank is responsible for the housi

See Full Page