probably goes without saying everyone takes interest when the Reserve reviews interest rates as that effects just about 75-80% of any population..The rest are in too rich to care or in total poverty…
Then ever wonder why Politicians either run for cover or praise themselves around that time depending on the political climate. Blame is important, in fact a priority depending on the call.
While all this media focus is on the bank charge rate no one ever questions the rate the banks lend to each other, so whatever rate is decided the banks can and do manipulate rates so their profits are not only maintained but flourish unchecked until annual reporting to the shareholders..
Someone has to pay, and it’s not the big end of town.
Now you will notice the Bank Executives are paid by performance based salaries so the bigger the profits the more they bag.. And of course those numbers would not be slanted to suit them.. How cynical am I ?
The crux of the matter is we need a full open investigation into the banking sector, no boundaries, and only the political parties who have something to hide or mates to protect would not support such a Commission into Banking.