Why restrictive bank lending policies are to blame for low interest on savings and bank deposits
Updated: Nov 13, 2019
Mayfair 101's Managing Director James Mawhinney shares his thoughts on the current interest rate environments in Australia and how the UK is making it difficult for savers to get yield on their cash.
''The banks have access to an exorbitant amount of capital and ultimately they're driven by, in many instances, shareholders who hold banks to account and ensure they make astronomical profits''.
''The banks are squeezing savers by keeping the rates down but at the same time the bank's lending policies are so tight that they have access to so much capital but they just can't deploy it''.