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Which bank will blink first on rate rises?

24/08/2010

Higher funding costs and uncertainty about the global economic outlook have been consistently cited by bank executives in the last few weeks as they have reported their profit results. Analysts say these factors will cause the banks to raise retail standard variable mortgage rates in the very near future. All four banks spoke of growing pressure on their margins due to the impact of Europe's credit worries, uncertainty over the economic recovery in the US and ongoing intense competition for domestic deposits. EL&C Baillieu analyst Stewart Oldfield said “it will be interesting to see who blinks first."

Source: Sydney Morning Herald



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