Tag Archives: reserve bank
‘Banks try and take Australians for a ride’ by Jamie McIntyre
'Banks try and take Australians for a ride' by Jamie McIntyre
Don't believe the banks for a second when they state they can't pass on the reserve bank interest rate cut due to higher wholesale funding.
This is a convenient story which is misleading Australians.
Australian banks for some time now have sourced most of their funds from domestic deposits, rather than foreign wholesale markets.
So even if wholesale fund rates have risen, this only effects a small percentage of the Read more [...]
Is the Reserve Bank crazy for raising Interest Rates ?
Personally, I can't believe they did.
I mean the recovery is barely underway and with the US still likely to suffer a double dip recession, wouldn't it make sense to at least let the Australian economic recovery get past a crawling speed before slamming on the brakes again?
Is it not somewhat premature even to think the recovery is even sustainable?
I appreciate the Reserve Bank is worried the Property Market is going to take off and create a bubble, which I agree is a valid concern, however Read more [...]
Jamie McIntyre Says "Make Australia Post a Government Bank to Compete Against The Big 4 Banks"
Make Australia Post a Government Bank to compete against the big 4 banks.
CEO of the 21st Century Group says the Federal Government should immediately move to make Australia Post a Federally Funded Bank to compete against the major 4 banks, especially after CBA just raised their interest rates.
The Government can criticise banks all they want, but they have little to no power to stop them raising rates at will; not even the Reserve Bank has the power it used to.
And because they allowed the Read more [...]
