McCrann: Rising bank funding costs good for property market!
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Terry McCrann has written a bizarre article today in the Herald-Sun arguing that rising US interest rates and rising Australian bank funding costs would actually be supportive to the property market:
ON Tuesday week, Reserve Bank governor Philip Lowe will leave the official interest rate unchanged, as he has done at every meeting since becoming the country’s rate czar nearly 18 months ago.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.