NSW Premier Dominic Perrottet has hammered the big banks over continuing to pass on interest rate rises to consumers. 9News
On a $500,000 loan over 30 years, yesterday's hike will mean the average borrower will need to find an additional $81 to service their monthly repayments.NSW Premier Dominic Perrottet has criticised the big banks for passing on interest rate rises.But Perrottet criticised the swiftness of the decision.
"What we've seen over the last period of time is, every time the Reserve Bank increases rates, the banks are very quick to raise rates on their customers," he told Today."During some of the darkest days in the pandemic, when the Reserve Bank was cutting rates, only on one occasion did the banks pass that rate cut on in full.Perrottet said NSW residents were under pressure, with family budgets being stretched thin.
He called on banks to look after their customers - and on the federal government to intervene and cut "red tape and regulation".Inside Australia's top 10 most expensive property sales of 2022
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