House debates

Monday, 15 June 2009

Questions without Notice

Interest Rates

2:15 pm

Photo of Kevin RuddKevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the Leader of the Opposition for his question. Let’s go to the facts of what the Commonwealth Bank actually said. They said:

The cheaper funding we had … prior to the crisis is rolling off and is being replaced by this more expensive source of funding.

The cost of raising funds from offshore wholesale markets was still 12 times higher than it was before the credit crisis.

That is: offshore.


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