Banks have begun passing on the latest 0.5% increase in the official cash rate to borrowers.
Treasurer Jim Chalmers says he's told bank chiefs that he is disappointed that the rate rises have not been passed on in full to savers, who he is urging to shop around for a better deal.
Morningshow etc.
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RN Breakfast daily stories separated out for easy listening. RN Breakfast is the program informed Australians wake up to. Start each day with comprehensive coverage and analysis of national and international events, and hear interviews with the people who matter today—along with those who'll be making news tomorrow.
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Folge vom 06.07.2022Treasurer disappointed with the banks
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Folge vom 06.07.2022Rate rises to push more households into mortgage stressThe RBA's interest rate rise only compounds the pain for households already struggling with the rising cost of living, and the central bank isn't done yet. Anna Bligh is the Chief Executive of the Australian Banking Association and she joins the program to discuss the rise.
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Folge vom 06.07.2022Rates rise but retirees say they're yet to see a benefitRetiree Steve Adamantidis says he and his wife have lost around 12% of their household income in the last few years, because the interest on their savings has dropped. The Combined Pensioners and Superannuants Association's Paul Versteege says the best rates are with digital-only neobanks, which many older Australians can't access as they're not online.
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Folge vom 06.07.2022Calls for War Memorial to include frontier wars commemorationThe Albanese Government is being urged to ensure the controversial $500m expansion of the Australian War Memorial includes a dedicated space to commemorate the frontier wars. Colonial and settler conflict lie at the heart of truth-telling which will be overseen by a Makarrata Commission that Labor has committed to alongside a referendum on a Voice to Parliament.