From Gotti:
While there was no surprise in the US Federal Reserve’s interest rate rise, the quick response from the US share market was an ominous sign for Australia and our struggling housing market.
…Our big banks borrow around 35 to 40 per cent of their funds overseas so their costs will also rise although, because of the lessons of the global financial crisis, banks borrow longer term so there will be a delay before the impact hits.
