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Podcast: The Mike Hosking Breakfast
Episode: Mike's Minute: Still more questions to answer for the Reserve Bank
Description: The mail I'm getting got a bit more official yesterday with Fitch suggesting they think the Reserve Bank isn't done. A lot of people thought the Reserve Bank was done cutting because fill-in Governor Christian Hawkesby basically said as much last week. On the inference that it was over, swap rates on the wholesale market started going up. Why should you care? Because if you owe money to a bank a lot of their income to lend comes from the wholesale markets. If it goes up so does your interest rate, whic...