The head of the Australian Banking Association has welcomed a probe from the competition watchdog into the banks' refusal to pass on in full the recent spate on interest rate cuts.
“I think one of the things that this ACCC inquiry may help shed more light on is a great deal more accuracy of what Australians are actually paying for their mortgages,” Anna Bligh told reporters on Monday. The Australian Competition and Consumer Commission review was ordered by Treasurer Josh Frydenberg and will investigate the pricing of residential mortgage products and to examine obstacles that impede customer's ability to switch lenders.
On Monday the parliamentary sitting week began with the press gallery receiving the full set of notes from the PMO after it was sent to them by accident. We’ve fact-checked the document to see just how many untruths or misleading claims are in the brief.
nothing will change, as banks continue to steal RBA rate cuts meant for the consumer and national economy. Banks learnt nothing from the royal commission and its still profit at any cost. Make it a criminal offence, jail the CEO's and suspend or cancel their banking license. smh
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Govt orders probe on big four banks | Sky News AustraliaAustralia's big four banks will be investigated after failing to pass on full interest rate cuts to consumers.\n\nTreasurer Josh Frydenberg has directed the Australian Competition and Consumer Commission to investigate the interest rate pricing of residential mortgages. \n\nThe banks will have to reveal their pricing practices after none of them passed on the most recent cut to customers in full but slashed interest rates for deposit holders. \n\nSmall banks and non-bank lenders will also be included after the sector ignored cuts made by the Reserve Bank. \n\nThe government has not ruled out policy changes or regulation, depending on the findings of the inquiry. \n\nImage: News Corp Australia You are just headlines with no substance If you binge spend as Australia has been doing since Whitlam and build up hundreds of billions of dollars in govt and private debt, reserve bank is only one source of money supply. Rest comes from overseas. Of course it’s easier to blame the banks because the public likes it.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Probe into big banks is 'too little too late' | Sky News AustraliaShadow Assistant Treasurer Stephen Jones says a fresh investigation in to the big four banks is “too little too late”. \n\nTreasurer Josh Frydenberg directed the Australian Competition and Consumer Commission (ACCC) to investigate the sector over its failure to pass on repeated interest rate cuts in full. \n\nMr Jones accused the government of sitting on vital information and failing to act in the interest of Australian consumers. \n\n“In June last year they received a report from the productivity commission looking at competition in the finance and banking industry and they have been sititing on it for 12 months,” he said. \n\n“The problems are clear yet the government is doing nothing, spooked into action because Labor’s putting a bit of pressure on them.” who, in god’s name, would pay attention to anything this muppet has to say ... way out of his depth and world-class fraud 😳😳😳 The liberals work for the banks and against the Australian people, this is a stalling tactic to get the banks out of the news again, Liberals running defence for the banks again...
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Number of skilled migrants settling in Australian regions doubles | Sky News AustraliaThe number of skilled migrants settling in regional areas has more than doubled after a federal government push to encourage newcomers to live outside major cities.\n\nThere were 6,300 regional visas granted in the first three months of the program from July to September, up from close to 3,000 for the same period last year.\n\nQueensland experienced the biggest uptake in regional visas, with South Australia and Tasmania also seeing a major boost in migrant workers. \n\nImmigration Minister David Coleman said regional migration was easing pressure on the big cities, while supporting growth in the regions that needed more people.\n\nImage: Getty Yeah no. More lies. High Immigration & refugee intake puts upward pressure on our “Water“- Hospitals-Schools- Housing-Jobs & traffic congestion. I Support Pauline Hanson One Nation, Clean up our backyard before flooding our country Spreading out the population
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Big banks to face ACCC inquisition over interest rate cutsTreasurer Josh Frydenberg asks the competition watchdog to investigate the banking sector over its refusal to pass on interest rate cuts to customers in full. Im sure the banks are quaking in their boots over this one! Is he talking about credit card and personal loans interest rates, they affect more people and if they were brought down people might be able to save for housing deposits. Just saying ?
Source: abcnews - 🏆 5. / 83 Read more »
Morrison accused of fumbling Australia's relationship with China | Sky News AustraliaThere's been a further breakdown in bipartisanship on foreign policy with Labor accusing the Prime Minister of putting politics ahead of the national interest. \n\nIn a major speech in Canberra on Monday, Shadow Foreign Affairs Minister Penny Wong warned of increasing populism under Scott Morrison's approach.\n\nShe also accused the government of having 'lightweight' ideas which fail to address the rise of China. \n\nSenator Wong went on to accuse the Prime Minister of fumbling Australia's relationship with China. \n\nImage: News Corp Australia Of course she has. She would have led by Sam Dastyari's example had he not been deposed Who cares what shehe Wong says Does Wong think the govt should endear themselves with the Chinese by accepting their donations like Labor?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Australia must 'help the US meet its need for critical minerals' | Sky News AustraliaResources Minister Matt Canavan says the government has been working with the US for a couple of years “to identify opportunities for Australia to help the US meet its need for critical minerals”.\n\nThe initiative comes as an attempt open up a concentrated rare minerals market, dominated by China, with the overall goal of “creating new industries and jobs for Australians,” he said.\n\nMr Canavan told Sky News President Donald Trump asked his government to establish a list of minerals critical to the US economy, and it was found that Australia has 14 of the 35 critical rare earths. \n\n'We are very lucky in Australia to have a great mineral industry, so we will do our best to establish these markets,' he said. \n\nImage: News Corp Australia When the Kids grow up mattjcan They will change the Law and you will be in court for your crimes against humanity and the environment. YOU ARE ON THE WRONG SIDE OF HISTORY Auspol hc_litrush The US has been coalescing its plan to isolate China for a while now. It's all coordinated. A very competent politician and interesting interview 👍
Source: SkyNewsAust - 🏆 7. / 78 Read more »