Reuters reports that Australia’s central bank left interest rates at an all-time low on Tuesday but cautioned it would “carefully” monitor trends in property debt as the housing market boomed.

The Reserve Bank of Australia (RBA) also reiterated its commitment to keep policy accommodative for as long as is needed to pull down unemployment and push inflation higher, signalling the cash rate would remain at 0.1% until at least 2024.

In a short post-meeting statement, RBA Governor Philip Lowe noted the house price surge was driven by strong demand from owner-occupiers and first-home buyers while pointing to the still subdued credit growth for property investors.

“Given the environment of rising housing prices and low interest rates, the Bank will be monitoring trends in housing borrowing carefully and it is important that lending standards are maintained,” Lowe said.

Analysts generally expect financial regulators to impose stricter macro-prudential rules on banks this year to help rein in risky lending behaviour with the RBA seen likely to keep rates at 0.1% for some time to come