Banks in precarious position on rates

After two decades of funding ever-increasing home loans, Australia's banks have reached crunch time.

With the Reserve Bank leaving official rates on hold yesterday - amid demand for loans waning and overseas funding cost rising - the banks may be forced to lift rates independently to claw back profits.

The choice is a tough one: lift their interest rates and they'll hurt the economy, leaving consumers even more reluctant to take out loans.

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