Posts Tagged ‘interest rates’

RBA vs Banks Interest Rates Part 2 – The Growing Gap

Monday, July 16th, 2012
RBA and Banks Interest Rates Gap

RBA and Banks Interest Rates Gap

As per my post on the 4th of May the major banks are increasing the gap between the Reserve Bank of Australia (RBA) cash rate and the Interest rates they charge their customers.  Looking over the data from the year 2000 we can see how the rates gap has gone from a steady 180 percentage points (1.8%) difference to now a whopping 340 percentage points (3.4%) difference.  It is no wonder why the banks are continually making massive and quite obscene profits, especially as they continue to also charge excessive fees.

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The RBA vs the Banks on Interest Rate Changes

Friday, May 4th, 2012

The RBA rate drop vs what the banks are providing

The last few interest rate changes by the RBA since late 2011 and now in May 2012 has seen the banks move away from the RBA rate changes and go it alone and set their own rate changes, even to the point of lifting rates when there has been no rate change made by the RBA.

While the banks continually post multi Billion dollar profits they cry poor as costs to provide banking are now apparently higher now, even though we all seem to be paying larger amounts of fees to use their most basic services. (more…)

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