Banks set own interest rate hikes
October 11, 2009 by infoatperthrelocation
Banks say they will be forced to lift rates
Will be more than official RBA rises
Facing higher costs of raising money
BANKS have confirmed homeowners’ worst fears: they will increase mortgage rates by more than the official Reserve Bank rises in the coming months.
The Big Four banks claim they will be forced to lift interest rates beyond the official RBA cash rate increases because they are facing higher costs of raising money in the wholesale markets.
Full story : http://www.news.com.au/business/money/story/0,28323,26194165-5013952,00.html
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