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Interest rates stayed put this week, but there are strong opinions and concerns that this is unlikely to remain the case according to the ABC news.

While ABC’s report concerns itself primarily with mortgage rates the effects would almost certainly be felt through at SME finance levels because tighter banking regulations, along with political and social pressure from the banking royal commission, will ultimately see banks tighten credit further.

“I’ll give it to you straight: that wouldn’t be good for the economy. In the current climate, a vicious cycle of falling house prices, tighter credit and reduced wealth among households would be a serious drag on economic growth” reported RN Breakfast business reporter David Taylor.

 
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