Impact of Competition on Interest rates

Nov 15, 2010

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.

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