RBA's cheap money is killing competition (AFR)
29 September 2020
The Reserve Bank's $200 billion pool of cheap money has allowed the big banks to launch a fixed-rate refinancing blitzkrieg, luring customers away from smaller lenders and potentially causing irreversible damage to the competitive landscape, according to one of Australia's biggest non-bank lenders.
Kim Cannon, founder and managing director of non-bank lender Firstmac, says the federal government must broaden access to the RBA's term funding facility before it kills off competitors and sets us back a generation.
Click here to read (subscription required)