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The big four banks will not increase deposit rates for existing customers on their main savings accounts, even as they pass the full RBA rate rise to home borrowers, despite political pressure to reward savers
While Commonwealth Bank shares are setting fresh records, there’s no shortage of uncertainty around the outlook for the banks as cohorts of borrowers face a tough period.
One of the nation’s top bank analysts says Treasurer Jim Chalmers’ ambitions to remake capitalism signal a “significant change to a more interventionist approach to markets, finance and the economy”.
Banks are closing branches at the fastest pace since 1990s, the Finance Sector Union says.
Banks are closing branches at the fastest pace since 1990s, the Finance Sector Union says.