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Westpac's Kelly tips more rate pain ahead

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Australian Broker | 08 Mar 2012, 03:00 AM Agree 0
Westpac boss Gail Kelly has warned consumers they could get slugged with more frequent rate hikes
  • Country Broker | 08 Mar 2012, 09:46 AM Agree 0
    Seems like some and mirrors to me , particulary in view of some the articles published by theaustralian managers of overs seas banks
  • JERRY gIBB | 08 Mar 2012, 10:44 AM Agree 0
    Stop ripping the consumer of. Government get off your lazy backside. They are greddy and all they care about is the CEO paypacket and the shareholder. Customers time to wake up as they do not "live in your world" to use the phrase of one of the big 4
  • Broker - 14 Years | 08 Mar 2012, 11:07 AM Agree 0
    Will the Banks be just as quick to lower interest rates when the costs of funds reduce ... I think not !!!
    Thank goodness the smaller Banks / Lenders are providing strong competition for the major banks otherwise our clients would be forced to pay much more.
  • Gary Perth | 08 Mar 2012, 11:27 AM Agree 0
    The Government I trust/hope read these comments and respect the honesty of imput. The "big 4" along with other large financial bodies are slowly bankrupting the Australian public. With reported lending margins at near record highs, credit card debt at nearly $50 billion and record profits continuing for these monoliths it would only take a reasonable size hiccup in global markets to send many Australian customers to the wall. When will the Government get to grips with the way big financial businesses manipulates their profit at the expense of the consumer. I don't mind businesses making a profit but the "big 4" are seemingly insulated to general market pressures. Making lenders complete a full financial application for a credit card and any increases mandatory would be a start. No Interst for 2 years on purchases of TVs' etc. has seen many people placed into difficulty. Wake up Government, you have been asleep on this for too many decades.
  • Damien | 08 Mar 2012, 12:43 PM Agree 0
    Just makes it easier to refinance clients away from them, which I love doing, bring it on I say!
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