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Here Comes the Pain

Discussion in 'The Economy' started by Chris C, 16th Jun, 2009.

  1. Chris C

    Chris C Well-Known Member

    Joined:
    2nd Apr, 2008
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    Location:
    Brisbane, QLD
    Westpac, NAB raise rates - ABC News (Australian Broadcasting Corporation)

    Well it has been happening in the US to a much greater degree and it looks as if it has spread here to Australia. Mortgage rates are climbing irrespective of central banks short term rates.

    Whilst the bond market seems to have settled for the time being, I get the impression the banks are back in the business of making money and protecting themselves from higher risk and threat of inflation which means higher costs to borrowers. The days of cheap credit may be very numbered.