NSW Premier Dominic Perrottet calls out Aussie banks over quickly raising ... trends now
View
comments
NSW Premier Dominic Perrottet has called out the blatant hypocrisy of the major banks for being quick to raise interest rates at any opportunity despite the cost-of-living crisis currently faced by Aussies.
Mr Perrottet spoke with Today show host Sarah Abo on Wednesday morning following the Reserve Bank's ninth consecutive rate hike to 3.35 per cent this week.
The premier slammed the banks for their double standard in hastily passing on interest rate hikes after the official rate was raised by the RBA, but being slow to cut them during the Covid pandemic.
'Well Sarah, I think they should be looking after families in a difficult economic time,' Mr Perrottet said.
NSW Premier Dominic Perrottet (pictured) slammed the major banks for taking any opportunity to pass on rate hikes, after the official rate was raised by the Reserve Bank, but being slow to cut them at other times
'What we've seen is every time the Reserve Bank increases rates, the banks are very quick to raise rates on their customers.'
The premier recalled being the NSW treasurer for five years, a period that included 'some of the darkest days in the pandemic', and said he recalls only one instance when the banks passed on a rate cut in full.
On another occasion when the Reserve Bank
