“That is not something I can signal today. We need to see what happens with funding costs and the Reserve Bank moving rates or not is one part of that and obviously capital is part of that,'” he said.
Of course it won’t, from the AFR comes NAB CEO Andrew Thorburn:
“You are seeing increasingly the difference between investor home loans and owner occupied home loans.
“You are seeing some pressure in the Queensland and Western Australia housing markets as the mining services…passes through, you are seeing rates are slowing and the rates of growth of house prices in Sydney and Melbourne which is encouraging,” he said.
And we are seeing funding costs trending higher still, though the recent relief rally continues, with CBA CDS at 82.44 yesterday:
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Fed hawkishness won’t help.
