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You're probably right... so let the ACCC use it. If ANZ's costs have increased 6 bpts, then its customers have less to be annoyed at.

(1) The RBA can comment on overseas funding costs, yes. However, I'm not sure if they know the funding mix of each bank and/or calculated the weighted cost of such. It's the mix of funding that influences the actual cost - which will be different for all banks. (2) I'm not talking about cheap...

My concern is the reason they are providing for the increases i.e. increase in the cost of funds. The frustrating thing is no one can verify it, because it really depends on a bank’s funding mix. What I think is necessary is for the ACCC to verify the banks rationale for any increase. The...