According to this article in today’s Australian newspaper, the big 4 Australian banks aren’t satisfied with their already record profits and will raise their lending rates next month even if the RBA stays on hold.
The world is trying to recover from a potentially devastating financial crisis and yet the bankers just don’t get it. They should be trying to re-establish some semblance of credibility yet what they try to do is maintain existing profit levels at all costs. Wouldn’t it be great to find some moral leadership somewhere.
