One thing banks have been doing very poorly is explaining these "increased funding costs". It seems like shedding jobs is just the easy quick fix. Maybe if they explained these funding costs better... If it is actually a real problem - then maybe there'd be less hostility against the banks.
But for a lay man like myself, when you see such low mortgage rates overseas, such low demand for money, why is Australia the opposite?
Can someone sell me the bank's Cry Poor story?