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OnlyMe

Banks Fuel Inflation With Customer Debt Targets

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Nothing we didn't know, but intersting nonetheless that the practices of the banks are being questioned, particulalr as to whose intersts they really have in mind and whether the whole economy might not suffere as a result.

All a bit too late though.

http://www.scoop.co.nz/stories/BU0511/S00165.htm

Contrary to comments by BNZ Managing Director, Peter Thodey, to the media this morning, and Westpac Chief Executive, Ann Sherry, last week, the current ‘very competitive mortgage market’ in New Zealand is not ‘healthy for consumers and providers alike’. Nor is it simply a result of ‘people’s fixation on bricks and mortar’.

Finsec, the union for finance workers, agrees with the Reserve Bank Governor who last week argued that banks are pressuring inflation through their lending practices. The major banks are driving inflation and attempting to grow their market share by imposing ever increasing sales targets on their staff.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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