Do you think it should be law that banks pass on what ever interest decision the RBA decide?

Do you think it should be law that banks pass on what ever interest decision the RBA decide?
Yes
85.80%
No
13.25%
Other, please leave a comment
0.95%
  • Total votes: 317
  • Poll ended: Sat 28 Jan. 2017, 4:22 PM

Suggested by goose48

Poll Comments (702)

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Comment by pratt88

Sat 11 Feb. 2017, 10:01 PM


Yes

Comment by lil 21

Thu 19 Jan. 2017, 2:19 PM


by way of complying with, at least, the minimum of what the RBA expects of banks, yes, however, it should not be made so that they no longer have a means of being competitive with other banks, etc. and, making it a law that banks have to have whatever interest rate the RBA sets would take away this competitive edge they currently have, and wouldn't really benefit customers as much ie better deals are given while they are able to compete against each other.

Comment by CILLY0

Mon 02 Jan. 2017, 4:12 PM


Banks are private businesses and are subject to the open market. If they don't do what the public consider the right thing to do they will lose customers. That's what drives them, not the RBA which sets an interest rate for government concerns. Once the CBA was privatised there was no longer a reason other than the market for other banks to follow the RBA rulings.
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