Australian banks Australian interest rates

Bank funding costs are not rising, rate rises are gouging

Monday, 12 December 2016

Yields in money markets range from stable to rock solid, a factor proving to be of lesser importance amid an out-of-cycle hike on variable rates on home loans.

ANZ and Bendigo Bank on Friday announced increases to variable rates, bringing the number of lenders that have made similar moves over the past week to six.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.