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Yep.....Higher rates with record household debt....no brainer here. DEFAULTS. 2018 is going to be a year where the AUD/USD likely to fall HARD.
I guess Turnbull had to pull a rabbit out of hat to stop Shorten's mandate of a royal commission before the next election.
Bank royal commission will lead to higher interest rates: Anna Bligh
Homeowners face the
prospect of higher mortgage rates as a result of the
royal commission into the banks, the Australian Bankers' Association has warned.
Chief executive Anna Bligh warned that the local banks' borrowing costs could rise as offshore lenders regarded them as riskier prospects because of the uncertainty surrounding the royal commission.
"All Australian banks continue to be of the view that a banking royal commission is unnecessary and unwarranted.
"They are deeply concerned that such an inquiry will have an impact on Australia's reputation in international money markets," Ms Bligh said.
"Australian banks borrow significant amounts of money overseas so that they can lend to people for mortgages and they need those costs of funds to be as low and reasonable as possible.
"This runs the risk that Australia will be seen as a more risky investment by global investors that can go anywhere. The risk is that they don't invest or suspend their investment in Australia or they put a premium on the price of those funds," Ms Bligh said.
However, she welcomed the government taking control of the inquiry.
"It is too important to put into the hands of minor praties and fringe elements of the parliament.
"Any commission of inquiry designed by the parliament is likely to see terms of reference being politically horse traded," she said.
"This is not good for any Australian but nor is a situation where parliamentary committee made up of greens, one nation disgruntled national party members pull together an inquiry that is actually motivated by politics and not by good sense."
http://www.copyright link/business/...her-interest-rates-anna-bligh-20171129-gzvne4
(20min delay)
