What the big 4 bank have done to us? They dig their profits from our pockets! A study in the prestigious Economic Record has found that the big four Australian banks have on average passed on 116 per cent of each rate rise and only 84 per cent of each cut, using monthly Reserve Bank statistics …
How big four banks will change their home loan interest rates in 2010?
Banks will not pass on the full interest rate increases which are forecasted at 1% in 2010, according to Australia’s top macroeconomist Chris Richardson. He said that increasing competition for new customers and lower funding costs would cause major lenders to absorb about 30 basis points of Reserve Bank increases during the second half of 2010. …
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