In the wake of the RBA’s decision to cut the interest rates to ease the pressure on struggling households, 75 banks across the nation have partially passed or ignored it all together. 

4BC Drive host Dean Miller said 4BC Afternoons, “The message is clear, when times are tough, you’re on your own, it’s not just disappointing, it’s disgraceful.”

“What we’re seeing is nothing less than opportunism dressed up as prudence, banks are exploiting the gap between the public expectation and the actual delivery of monetary policy.” Miller continued.

Hear more highlights from Sofie Formica below and download the 4BC App on iOS or Android to ensure you don’t miss a thing!

Image: iStock