Sky News contributor Peter Switzer says banks "don't believe" the RBA Governor will keep interest rates on hold in the longer term, moving to ditch their ultra-low four-year fixed term rates.
House price inflation grew at its fastest monthly rate in more than three decades with the RBA confirming they would not move on interest rates until 2024. "I don't think they believe it. They think this economy is going to be growing so strongly, eventually, the RBA boss will have to admit he's done such a great job... that he's going to break his alleged promise," Mr Switzer said.
Source: Financial Digest (financialdigest.net)
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