Worlds changing. Dont expect the past to replicate the future.
Yesterday the RBA left interest rates on hold. 75% of the market expected them to drop.Banks tipped to raise interest ratesEconomist Stephen Koukoulas has told AM the banks might see now as a good time to claw back some of their costs for sourcing funds on global markets.
"There's at least an even chance that sometime over the next couple of weeks, the commercial banks will be looking at their cost-of-funding pressures, seeing that [they] are going up and that they will, I guess, surprise people and annoy people by just tweaking up some of their lending rates, both for mortgages and small business," he said.
Thats the same place that Canadian banks get their money and rates from.
Geezer: "What if somebody listened to Taipan and doesnt buy".
Well, they will thank their lucky stars, that they arent one of the thousands of miserable souls who cant sell their properties in 2013!