Greens push for rate hike ban
16 NOV 2010
7 min read
Finance
Sick of government inaction, the Greens are seeking to put a two year ban on banks lifting their home loan interest rates out of cycle with the Reserve Bank.
According to The Australian Financial Review, the Greens would also like to force Australia’s lenders to introduce a fair price variable interest rate mortgage product.
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Greens MP Adam Bandit said the changes to legislation would prevent banks from excessively lifting mortgage rates outside the RBA and increase competition among the major and independent banks.
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