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Australian Finance News

RBA Says Major Australian Banks Profiting At Expense Of Customers
The Reserve Bank of Australia says that Australia’s major lenders are using higher funding costs as an excuse to profit at the expense of mortgage borrowers and businesses. The RBA found that the tendency by the majors to increase their interest rates beyond that of official interest rates has meant that they have managed to offset [...]

Australians Spend 22 Per Cent Less On Credit Cards In January
Australians spent nearly 22 per cent less on charge and credit cards during the month of January according to new data from the Reserve Bank of Australia.

Westpac Says Domain Name Sale Attempt Copyright Infringement
An internet entrepreneur who purchased a domain containing Westpac in the URL has had his offer to sell the domain back to Westpac rejected by the lender.

Banks Fail To Pass On Interest Rates Cuts To Australian Credit Card Borrowers
New data analysing the movement in credit card interest rates over the last two years shows that Australian bank’s have been the main beneficiaries of interest rate cuts, having kept 85 per cent of the savings resulting from the central bank easing interest rates.

Consumer Sentiment Rises As Australians Feel Increasingly Secure
Australians feeling increasingly secure in their jobs due to the rapid decline in unemployment rate over the last few months has helped them deal with the pain of tighter interest rates.