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Economy — Interest Rates — Inflation — Banking — Australia — Economics

Australia PM Calls on Banks to Apply Rate Hikes to Deposits

Australian Prime Minister Anthony Albanese called on country's big banks to increase deposit rates for savers. The competition watchdog launched an inquiry into the issue.

1 min read
  • Australian Prime Minister Anthony Albanese called on banks to raise deposit rates for savers.
  • The country’s competition watchdog launched an inquiry into the issue.
  • The Reserve Bank of Australia has raised rates by 3.25 percentage points since May, squeezing borrowers and savers.
Australia PM Calls on Banks to Apply Rate Hikes to Deposits
Australian Prime Minister Anthony Albanese called on the country’s big banks to boost deposit rates for savers amid concerns rate hikes are only being passed on in full for borrowers.
BloombergEmily Cadman

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