Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 4BC account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 4BC content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 4BC online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

‘A fair cop’: ANZ welcomes ACCC inquiry

Article image for ‘A fair cop’: ANZ welcomes ACCC inquiry

The ANZ bank has welcomed the competition watchdog’s inquiry into the banking sector.

The Treasurer has asked the ACCC to investigate the big banks’ refusal to pass on the full interest rate cuts.

Since January, the Reserve Bank has reduced the official cash rate three times but the major banks have not passed the cuts on in full.

ANZ CEO Shayne Elliott tells Ross Greenwood he welcomes the inquiry.

“There’s a need for greater transparency, in terms of how we make our decisions, and this is one way of achieving it.

“It would be easier to criticise this latest inquiry… but the reality is we, as an industry, have failed in our job to be able to explain how we price mortgages, in particular, to our customers and to the public.

“That is a fair cop.”

Click PLAY below to hear the full interview

Deborah Knight
Advertisement