Can you see banks raising interest rates?

Well a few banks has cut back on their "discount offering" ...which has a "simliar" affect, without customer realizing as such.

ANZ- 4 days ago, 0.1%
CBA- 1 month ago 0.1-0.2%

etc...
 
Well a few banks has cut back on their "discount offering" ...which has a "simliar" affect, without customer realizing as such.

ANZ- 4 days ago, 0.1%
CBA- 1 month ago 0.1-0.2%

etc...

This is only for new business, yeah? Existing discounts are unlikely to change?
 
Just heard on the news ANZ will be lifting rates this Friday. They dont muck around

I'd like to see them do that. ANZ is already a terrible lender and if they try these antics, then they will turn the screws on their own mortgage book. Good luck with that since they aren't making any money in Asia.
 
A doubt an employee would have any clue at all where their funding comes from.
You have no idea how high up this employee is, he might be the on the team actually organising the funding.:)
He isn't, he does have a clue but I doubt he has the full story.
 
I called my mortgage manager (ANZ) to fix 33% of my loan for two years. He mentioned that lot of people are calling to fix it!

It is lower than the current rate (variable - 1%) anyway... so can't go too wrong.
 
I was told yesterday by an anz employee that they are using asian depositors cheap money for cheap lending here.

Hi,

I would not be surprised. In Singapore, saving rates are only 0.25% on average because of the excessively high level of savings there.

Regards,

Daniel
 
Just been notified that Citibank are increasing their fixed rates as of Monday.

Cheers

Jamie

not surprising when you look at three-year and five-year bond rates believe three-year bond rates have gone up quite a bit in the last two weeks.

Seeing that Citibank have one of the best three-year rates its not surprising that they have moved those rates are especially seeing they can't keep up with the demand running six days to conditional

ta

rolf
 
A doubt an employee would have any clue at all where their funding comes from.

I work at a bank and I can see where all their funding comes from :) Funding costs are REALLY hurting at the moment - even more than GFC - hence banks are trying to squeeze as much profit as possible from every source - whether that means raising interest rates or not passing on the full discount.
I have a mortgage so it sucks to hear daily about increased funding costs this, funding costs that, blah blah blah :(
 
Funding costs are REALLY hurting at the moment - even more than GFC

Let's see how much profit they made last year.
ANZ - $5.36 billion
CBA - $6.394 billion
NAB - $5.2 billion
Westpac - $6.991 billion.

They are really struggling aren't they?:rolleyes:
 
Back
Top