Banks again shopping higher rates

Aussie banks are again complaining about an increase in the cost of funding home loans. This time they are blaming new liquidity rules imposed by the regulator (APRA). Frankly, I find it impossible to trust the banks’ rhetoric anymore. Given the huge market share and market power that the GFC has delivered them, it’s very difficult to appreciate if they are being honest or they are just finding new reasons to hike up rates in unsuspecting borrowers. The sceptic in me makes me think the latter is probably true. If they do this again, all customers must complain to their banks. We need to send a message that customers still hold the ultimate power.