They'll pass it on. They've always passed such things on in the past and the Turnbull Govt are gonna try and have window-dressing to make it look like they're not passing it on but they will in fact they already have. Starting March 17th the major Aus banks have had two rounds of rate increases on many of their lending products some increased as much as 50 basis points all while the RBA leaves the OCR unchanged. So the relevant banks have already more than covered this in the 7 weeks before it was announced.
It's quite clever everyone hates the banks, you hit the banks, the banks pass it on so you are really hitting Joe public but then the Govt can blame the banks for passing it on and being such *********. Politically clever.
Originally Posted by theace
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