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Philip Lowe's days are numbered?

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I remember seeing that one too. Offering free NBN or something like that. (I didn't pay too close attention.) I'm guessing they want to boost there numbers to avoid a backlash with investors and shock to shareprice. Though given how they aren't passing on all the cash rate changes to deposits but are to the loans, I imagine there profit margins have actually increased right now. But who knows.
 
divs4ever said:
some of my former neighbours would have observed and learned a lot as well
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divs4ever said:
but some also revealed their intentions , but the question is did they play all their cards ?

some of my former neighbours would have observed and learned a lot as well
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Divs well bowl me over with a feather. If for arguments sake this is true then we certainly do have Big Brother watching and watching very closely over our collective shoulders.
 
farmerge said:
Divs well bowl me over with a feather. If for arguments sake this is true then we certainly do have Big Brother watching and watching very closely over our collective shoulders.
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some of my former neighbours were happily involved in avoiding regulations and restrictions ( for fun and profit )

the other issue is "Big Brother " policing itself ( and it's own ) have heard interesting anecdotes from places that should be 'airtight '
 
The graph below puts into context all the whining about 'high" interest rates.

1680827790491.png

Dr Lowe said the rate of circulation had dropped, partly due to higher interest rates, but also signalled lower deposit rates were to blame.
On the other side, the RBA Govenor made a speech at the press Club during the week where he was asked about Australians still hoarding $100 bills. Dr Lowe said the rate of circulation had dropped, partly due to higher interest rates, but also signalled lower deposit rates were to blame.
“If people get 4.5 per cent on their transaction deposit – and if you are not getting it, I encourage you to look around for a bank that will give that to you – that incentive of holding $100 bills at home, under your bed, is less,” he said.
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The problem is reality sometimes gets in the way of rhetoric.
From Evil Murdoch Press
Just try to get 4.5% from a bank.
According to the comparison group Rate City, of over 300 bank savings offerings, only 24 managed to make it to 4.5%, and only one of the big four banks, WBA, featured in the 24, and then it was only for people aged 18 to 24.
Of the 24 offerings from 19 different banks, 15 accounts are targeted at all adults, five are for young adults only and four for kids.
It highlights just how out of touch or poorly prepared he is.
Surely, he has enough underlings at the RBA to do a bit of research for him such as rate city has done.
Mick
 
mullokintyre said:
The graph below puts into context all the whining about 'high" interest rates.

View attachment 155482

Dr Lowe said the rate of circulation had dropped, partly due to higher interest rates, but also signalled lower deposit rates were to blame.
On the other side, the RBA Govenor made a speech at the press Club during the week where he was asked about Australians still hoarding $100 bills. Dr Lowe said the rate of circulation had dropped, partly due to higher interest rates, but also signalled lower deposit rates were to blame.

The problem is reality sometimes gets in the way of rhetoric.
From Evil Murdoch Press
Just try to get 4.5% from a bank.
According to the comparison group Rate City, of over 300 bank savings offerings, only 24 managed to make it to 4.5%, and only one of the big four banks, WBA, featured in the 24, and then it was only for people aged 18 to 24.
Of the 24 offerings from 19 different banks, 15 accounts are targeted at all adults, five are for young adults only and four for kids.
It highlights just how out of touch or poorly prepared he is.
Surely, he has enough underlings at the RBA to do a bit of research for him such as rate city has done.
Mick
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and I would add these 4.5% conditions attached: more at the end of the month than at the beginning-> prevent withdrawal at all or you lose a whole month of savings..or you need to spend on attached card, etc etc
I called CBA 2 days ago asking for their best saving option for businsess/trust...outside term deposit:1% a year return..thanks but no....
 
qldfrog said:
and I would add these 4.5% conditions attached: more at the end of the month than at the beginning-> prevent withdrawal at all or you lose a whole month of savings..or you need to spend on attached card, etc etc
I called CBA 2 days ago asking for their best saving option for businsess/trust...outside term deposit:1% a year return..thanks but no....
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buddy had a ( second ) talk to them ( CBA ) about a mortgage the bank seemed to be surprised the buddy has found a way to only require a very small amount through existing credit lines ( elsewhere ) now maybe the loan officer misread the 60% deposit for , say 6% deposit , or maybe loan managers just assume they are lenders of last resort .

which has me wondering about my CCV holding ( do i hold steady or increase the holding ?? )

oh , by the way a big chunk of that deposit was in that bank , now sitting in a short-term money market fund ( elsewhere ) ( it may only be a month , but interest is interest , especially when useless as leverage to get a mortgage )

interesting times

it will be interesting to dig into the bank results near the end of the year ( i doubt the buddy's experience will be unique )
 
I saw a chart of lending restrictions the other day. Can't find it now.

Restrictions peaked mid covid era at a higher than ever level, but since then, has dropped to pre covid levels. So a massive spike, followed by desperation.

Meanwhile, the banks are struggling to lend to/find enough quality debtors.

Meanwhile, rental market very tight everywhere, where people want to live that is...

Homelessness is becoming a business ?
 
farmerge said:
Self supporting or are a couple of trees a necessity?
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one strong branch ( or beam ) has served OK in the past

bought it after i saw what the Army Reserve supplied in the past ( when i was with them in the 70's ) ... less than half the weight even with an extra 'rain proof ' tarp .. no air mattress needed and less worries about snakes and bugs if you zip up the mosquito net
 
probably would be carrying a medium weight axe or heavy knife if i need to do something with wood/timber ( i very much doubt i would be resting up on a treeless plain/desert )
 
It seems the two majorn aprties in OZ have quietly agreed that the reform of the RBA, and hence Phil's job, is very much in need of reform.
From The Evil Murdoch press
Reserve Bank interest rate decisions that affect millions of mortgage holders will be handed to a second board of experts, as part of an overhaul of the central bank that recognises a lack of technical skills has contributed to a string of policy mistakes over recent years.
The government will back all 51 recommendations in a report to be released on Thursday after a root-and-branch review of the RBA by a three-person panel, with Treasurer Jim Chalmers saying the country’s pre-eminent economic institution will be transformed to “ensure Australia’s central bank and monetary policy arrangements are as strong and effective as they can be into the future”.

Also looming over the report will be the future of RBA governor Philip Lowe, whose seven-year term ends in September.

Most experts predict the sweeping changes advocated by the review panel will require new leadership – potentially from outside the bank – and Dr Lowe is not expected to be reappointed when Dr Chalmers makes his decision around the middle of this year.
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Standard Government policy.
Add another layer of bureacracy to the problem.
The prestige of these new advisory/review positions won't be as good as being on the RBA board, but watch the jockying for positions at the front of the queue.
Being a white cisgender heterosexual male will serve you no good, you need to be coloured, female, preferabley one that identifies as such rather than being born as one, and have at least one other disadvantage or vulvnerability.
Given the time frame in which public service bloatery works, we will most likely end up with the decision on rates being released about the time the next board meeting is due to start.
Mick
 
a second board of experts ??

where is the first one ??
given the current run rate . maybe the first board went for a l-o-n-g holiday ( either physically or mentally )

why not just stop paying the first board , and start paying some new 'experts '
 
Poor Phil Lowe.

I did hear on the ABC that the review found that there was not much discussion amongst board members RE: outcome for rate decisions, and that this was typically dictated by Phil Lowe. If so, I would agree that the board would need a revamp - I would expect the board to be composed of people who'd be able to argue their point rather than yield to a single individual when things get tough. Although that may be a reflection of the possibly poor selection process that is already in place.

I can't see how another layer of regulation would help the process....
 
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