Via Banking Day:
After months of holding out against an ‘out of cycle’ lift in variable rate mortgages, an industry-wide round of rate hikes looks imminent as funding costs push steadily higher.
One of the four oligopoly banks in Australia must be set to brave the media storm in a week where the banking news cycle will be defined by tales from the Hayne royal commission of harrowing and potentially illegal treatment of farming borrowers by banks. Hearings on this topic begin this morning in Brisbane.
