Impact of Competition on Interest rates

Q. If there was more competition between Australian banks, do you think this would stop the banks increasing interest rates by more than the Reserve Bank rate increases?

	Total	Vote Labor	Vote Lib/Nat	Vote Greens
Yes	47%	48%	50%	55%
No	31%	31%	34%	18%
Don’t know	22%	22%	16%	27%

47% think that if there was more competition between Australian banks, this would stop the banks increasing interest rates by more than the Reserve Bank rate increases while 31% disagree.

Older people and those on lower incomes were split in their opinions – for those aged 55+, 41% agreed and 38% disagreed while 41% of those on incomes under $600pw disagreed and 38% agreed.