Why is there monopoly greed, while their cost of funds is falling?
The ANZ has just obtained a 5-year fixed loan on $1B US at a coupon rate of just 0.625%.
The state of purpose of this low-interest money is to “project finance for corporate loans to projects and businesses ….”. Yet, RBA’s own reports show that these loans are going out and are being charged out up to 9% interest.
Stay tuned,Is the Treasurer going to do a Costello and pick up the phone and reign in the bank monopoly greed?