Banks will miss resources growth wave
An all-time high for investment features in the Reserve Bank of Australia's forecasts for "the period ahead".However, the banks can't expect to fund much of this growth, the RBA says in its projections.Guy Debelle, assistant governor for financial markets at the RBA, told an industry conference yesterday that recent patterns in resource investment were likely to continue.This includes the preference for funding sources that are "much less reliant on credit intermediated through the domestic banking system. "Instead they are likely to fund a sizeable share of this investment from global capital markets either through direct raisings or syndicated loans," Debelle said.