Business
What happened to pass-through rate rage? – The Australian Financial Review
The public is far more willing to forgive a bank that is not in sync with the RBA. But Reserve Bank governor Philip Lowe needs to keep the pressure on the banks…
Power balance switches
Instead, as deposit rates have hit rock bottom and bank profits have halved, it is savers and investors that are angry.
But Reserve Bank governor Philip Lowe needs to keep the pressure on the banks if monetary policy is going to be as effective as possible. So at every given opportunity, the governor urges borrowers to shop around.
He did it again on Tuesday: “I encourage everybody to ask their bank for a better deal,” he said.
“If they don’t give you a better deal after today’s…
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