Business
CBA customers reluctant to restart repayments – The Australian Financial Review
Many Commonwealth Bank customers with the capacity to restart repayments have decided to keep them paused to provide a financial buffer against a prolonged economic slump, CEO Matt Comyn says.
Commonwealth Bank, which will report its full-year results on August 12, said deposit funding had been rising as consumer caution led to an increase in savings rates, illustrating the challenge for policy makers to get the economy cranking again.
“People will spend money when they have more confidence about their individual picture, and confidence around their job and what they think is going to happen over the next period of time. It is entirely understandable people will build up more of a sa…
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