It is worth noting that Monday saw........>

AUSTRALIA: It is worth noting that Monday saw Macquarie signal that it will

employ higher variable mortgage rates for new customers from July 13, with

existing customers receiving an additional 10 day grace period. The bank joins a

host of tier 2 lenders who have already conducted similar hikes in mortgage

lending rates.

- Eyes now fall on the "big 4", with the elongated elevation of BBSW being the

main culprit for the move among lower tier investors.

- As a reminder, last week's RBA decision saw the central bank introduce the

following language to the accompanying statement: "In Australia, short-term

wholesale interest rates have increased over recent months. This is partly due

to developments in the United States, but there are other factors at work as

well. It remains to be seen the extent to which these factors persist."