So are they essentially 'banking' on RBA rates staying steady or...

So are they essentially 'banking' on RBA rates staying steady or dropping over the next two years? If so what does this mean for WBC/St Geogres outlook on the economy moving forward? I remember seeing fixed rates dropping a little just before the big move down in 08. Suckered a lot of people in at over 10% for 3yrs and missed out on the big falls to soon follow.