The banks would sing that tune, and if you believe them, they got you hook, line and sinker.
With less competition, they have been able to ratchet up their margins, whilst crying poor on wholesale funding costs. Norris quoted from a year ago...lol
That's why they keep making record annual profits right through GFC aftermath
Bring back the competition, and hopefully likes of YBR.
Been a great excuse for not passing on full rate cuts.
You're a sucker if you believe the line the big four have feed the market, and the pollies and RBA know it.
