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What I find surprising though is that the government is putting pressure on the big bangs to decrease interest rates in line with the reserve bank. I would thin
by robryan 15y ago
What I find surprising though is that the government is putting pressure on the big bangs to decrease interest rates in line with the reserve bank. I would think the last thing you would want it for the banks to start operating unsustainably lending wise. Sure the banks make crazy profits but I think it's preferable than for them to be a disaster waiting to happen if there is any downturn.
- brc 15y agoYes - and the majority of the bank lending is done in the international market which has nothing to do with the RB interest rate. Banks should be allowed to charge whatever interest rate they like. It's bad enough that there is a centrally fixed interest rate, but that's workable as long as there aren't rules that say everyone has to borrow at that rate.