Bernacke is keeping rates at zero until 2014...ref todays AFR the RBA is likely to cut rates between 50-100 base points, because the banks are unlikely to pass on the full cuts... these same banks borrow short term from the zero rates overseas, at 3 month terms, to fund mortgages on average of 25 years... and each of them , after all their constant whingeing over the past 3 years, about high cost of overseas borrowings, not only paid the bosses enormous increases in salaries, but they still returned over 6 billion each in profits... now who are the liars in this situation... the bankers have been caught out it surely is time for the asians to enter our financial markets, and send the 'pigs with snoughts in the troughs' on their way, back overseas...
