Why the RBA is worried about the banks
Independent Financial Research
Why the RBA is worried about the banks. After announcing an $8.68bn profit, the CEO of the country's biggest home lender claimed that Australia's house price boom - yes, another one - was nothing to worry about. That's par for the course in CEO-land. The last thing Commonwealth Bank shareholders need is Ian Narev talking up the risks of a property market crash. When your dividend cheque depends on a buoyant market for home loans, to say nothing of Narev's multi-million dollar bonus, why scare the horses? Following the money usually leads to the most likely explanation in such matters. The Reserve Bank has no such excuse, which is why its recent call to protect the banks from more competition because the RBA is worried about house prices is altogether more perplexing. Read the whole article: (VIEW LINK)
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Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...
Expertise
No areas of expertise