f******r
发帖数: 1105 | 1 THE Commonwealth Bank has slugged homeowners on Melbourne Cup Day by raising
its standard mortgage rate by almost double the increase in official rates
announced by the Reserve Bank.
CBA was the first to follow the RBA's increase, increasing its standard
variable mortgage rate by 45 basis points, nearly double the Reserve Bank's
increase of 25 basis points.
At its annual meeting last week, the nation's biggest lender revealed a $6.1
billion profit for the last financial year.
The bank said today the move was a result of "continued increases" in
funding costs.
"We continually monitor our funding costs and whilst they are currently
going up, should these costs reduce at a future time we will reduce our
interest rates accordingly," a bank spokesperson said.
Commonwealth's variable home loan interest rate will be 7.81 per cent,
effective November 5.
Stunned CBA customers jumped onto the internet to voice their anger at the
bank’s decision.
“The Commonwealth Bank of Australia ..... Greedy douchebags,” wrote
Emerson Bavison in one of the more family-friendly comments on Twitter this
afternoon.
Many more were condemnations containing multiple expletives. Several
tweeters simple wrote: "F*** you Commonwealth Bank."
Sunrise host and financial commentator David Koch tweeted: "Cannot believe
the Comm Bank has put up mortgage rates 0.45% after the RBA hike. Come on.
Be reasonable. Joe Hockey will have a field day.”
"Cynical cash grab" - Swan
The Reserve Bank's decision to lift the rate to 4.75 per cent from 4.5 per
cent following today's central bank monthly board meeting will surprise many
economists after last week's benign inflation readings.
Treasurer Wayne Swan said there would be a "very substantial community
backlash" against CBA's move.
"This is a cynical cash grab by the Commonwealth Bank, there is no other way
to look at it," Mr Swan said.
"I think Australians deserve a lot better ... it's no wonder Australians are
so angry with our banks after watching the behaviour of the Commonwealth
Bank."
This evening the dollar hit parity with the US dollar, for the second time
in a month, after RBA hiked its cash rate for the first time in six months
today.
The local unit was trading at 99.67 in the minutes after the RBA took the
cash rate to 4.75 per cent from 4.5 per cent, where it has been since May.
In the minutes leading up to the RBA's decision at 2.30pm (AEDT) the dollar
was trading at 98.87 US cents.
Mortgage Choice chief executive Michael Russell said homeowners may end up
cutting back on necessities on order to meet the extra mortgage repayments.
RBA: We told you so
Reserve Bank governor Glenn Stevens repeatedly has argued in recent months
that rates would need to be raised at some point in a pre-emptive strike
against a potential inflation breakout caused by the second phase of the
mining boom.
In a statement following the meeting, Mr Stevens said the economy was now
set for a "large expansionary shock" from the high terms of trade at a time
of relatively modest amounts of spare capacity.
"Looking ahead, notwithstanding recent good results on inflation, the risk
of inflation rising again over the medium term remains," Mr Stevens said.
"At today's meeting, the board concluded that the balance of risks had
shifted to the point where an early, modest tightening of monetary policy
was prudent."
The increase in the cash rate would add just over $48 a month to repayments
on an average $300,000 mortgage, but the major banks have warned of larger
rate increases than official moves because of their more expensive funding
costs.
Such a threat has sparked a major political row with opposition treasury
spokesman Joe Hockey demanding reforms to the banking system, a call that
has gained support from the public.
A Senate inquiry will be held into the banking sector that will report back
to parliament by March 2011.
The central bank will flesh out today's rate decision when it releases its
quarterly monetary policy statement on Friday.
Mr Stevens and his economics team will also face their twice-yearly grilling
in front of a parliamentary committee on November 26.
Read more: http://www.news.com.au/money/interest-rates/reserve-bank-board-interest-rate-decision-live-coverage/story-e6frfmn0-1225946624323#ixzz148x15u5Q | d*****e
发帖数: 1339 | 2 "F*** you Commonwealth Bank. " lol
raising
rates
's
.1
【在 f******r 的大作中提到】
: THE Commonwealth Bank has slugged homeowners on Melbourne Cup Day by raising
: its standard mortgage rate by almost double the increase in official rates
: announced by the Reserve Bank.
: CBA was the first to follow the RBA's increase, increasing its standard
: variable mortgage rate by 45 basis points, nearly double the Reserve Bank's
: increase of 25 basis points.
: At its annual meeting last week, the nation's biggest lender revealed a $6.1
: billion profit for the last financial year.
: The bank said today the move was a result of "continued increases" in
: funding costs.
| a**p
发帖数: 262 | | r*****y
发帖数: 3406 | 4 Commonwealth烂也不是一天两天了
这种在就在澳洲才能存在这么久
【在 d*****e 的大作中提到】
: "F*** you Commonwealth Bank. " lol
:
: raising
: rates
: 's
: .1
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