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Antitrust - Bank savings and mortgage interest rates - ACCC inquiry and resulting government measures (Australia)

The Australian government has announced new measures to help Australia get better rates on their mortgages and savings accounts. The changes are designed to create a "more dynamic, diverse and resilient Australian banking sector." The move follows a review of bank saving deposits by the Australian Competition & Consumer Commission, which examined competition issues surrounding the setting of interest rates on savings deposits. The inquiry followed concerns that lenders in the country were quick to pass on interest-rate rises to mortgage holders, but reluctant to do the same for holders of deposits.

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