CBA is now offering a 2.25% term deposit for 18 months
This is more than their prediction for RBA overnight rates (1.6% I believe) – not sure why they would lie since surely they would rather fool people into fixing loans at high rates
Maybe the banks have been told that there won’t be a TFF this time round, so they are scrambling to secure long term funding?
Really hard to understand how australia gets out of this without a massive recession.
Seems like a controlled demolition to me – part of the great reset I guess