The Reserve Bank Christmas present nobody wants

There have now been five rate rises this year, but so far borrowers are only stumping up the repayments for the first two.  That's because the banks need time to recast the loans which, in the case of yesterday's additional rise, won't happen until around Christmas.  The time lag means the Reserve Bank of Australia doesn't really yet know the effect its constant rate hikes are having.  Today, the ABC's business editor, Ian Verrender, on why the RBA may have already damaged the economy by going too far.  Featured:  Ian Verrender, ABC business editor