Australia’s big banks search for new customers with cut price fixed loans – Reuters

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“If we get this wrong, the retail market in Australia. customers to benefit from less interest on their balances “and compare providers more ­easily". In the $1.2 trillion mortgage sector, big.

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SYDNEY (Reuters) – Australia and New Zealand Banking Group cut fixed mortgage rates on Friday, the last of the country’s growth-starved big banks to do so in recent weeks as they chase new customers amid lower funding costs. With profit growth weakening along with property prices, the lower fixed.

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The big four banks between them hold around 80 per cent of all Australian home loans. There are many factors that have. are able to offer lower home loan interest rates to attract new customers and.

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 · For the share market investors that flock to the banks’ shares for income, the Royal Commission-inspired plunge in the major banks’ share prices exposed them to the capital risk of seeking income from shares: the banks’ share price falls ranged from 15.1% for CBA, through 23.9% for ANZ, 25.2% for Westpac, to 30.3% for NAB.

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 · Welcome to Australia’s central bank. The Reserve Bank of Australia conducts monetary policy, works to maintain a strong financial system and issues the nation’s banknotes. The Reserve Bank commenced operations as Australia’s central bank on 14 January 1960. Learn more about the RBA

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