In the past this would be greeted with cheers and applause but these days the Banks are doing their best to make the Cash Rate an outdated and ineffective tool.
The Banks are increasing rates at will, targeting investors in particular, citing funding cost pressure and the Regulators scrutiny on Interest Only Lending.
There is no doubt in our mind that ordinary Australian Mum and Dad investors are suffering from the Banks never ending chase for profit.
The Governments Bank Levy is one example of how the excess is being seen by Canberra.
Many investors are feeling nervous and unsure what they should be doing in this environment. We will be addressing this issue in our Investor Update in July. You can book your seat for this important event here: