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Big four could encounter price signalling accusations following potential rate cut

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Australian Broker | 08 Jan 2013, 07:00 AM Agree 0
The major banks may be prepared to lower interest rates independently at long last - but could now be set to face accusations of price signalling
  • CA broker | 08 Jan 2013, 09:15 AM Agree 0
    $160 a year ?? Not exactly huge motivational numbers. Try $160 a month.
  • Allan Faint | 08 Jan 2013, 09:17 AM Agree 0
    I am sorry but I cant believe the banks are not always in discussion with each other about how much profit they want to be making, over the past few years.
    maybe they want to make themselves look a little better, improve their market share a little, before keeping a bit more next time. as their margine over the RBA has increased by over 1.5% since the GFC, they have plenty of our money to play with.
  • John Smith | 08 Jan 2013, 09:56 AM Agree 0
    Its a shame the banks get away with price fixing & everyone else goes to court to explain themselves.!!!

    Uniformity does not exist in this country we call Australia. One rule for them & another for us..!!!

    I also agree with the CA Broker Comment-:
    "$160 a year ?? Not exactly huge motivational numbers. Try $160 a month".
  • BONED | 08 Jan 2013, 10:11 AM Agree 0
    At 6 basis points, they're still 5 basis points behind ANZ & CBA, & 7 behind NAB! Why would you even consider Westpac in the first instance?
  • John Whitten | 08 Jan 2013, 11:46 AM Agree 0
    If their margins have improved so much that they can offer the reduction in rates stated, now is the time for the banks to at least reinstate broker commission to what they were before GFC.

    The banks stated that their contracting margins were the reason for reduction in broker commission, so now that the margins have improved, it is time to reinstate our commissions to previous level.

    The banks are all quick to state that they support the broker channel, now we will see which banks are prepared to walk the walk not just talk the talk.
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