From the recent renewed murmurings about funding and margin pressures, you might be forgiven for thinking the banks are starting to soften up their customer base for a post-election rate hike regardless of whether or not the Reserve Bank resumes its cycle of raising official rates.

Whether it is the Bank of Queensland talking this week of the increased pressure created by deteriorating funding conditions, or Westpac denying last week’s reports that it had told analysts it would re-price its mortgage book next year, or ANZ last month reminding its investors that its average funding costs are continuing to rise, the issue remains front-of-mind for the banks.