Australian banksAustralian interest rates

God defend the RBNZ

David Llewellyn-Smith
Tuesday, 4 June 2019
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Via The Australian:

Forget the radioactive fallout from the Hayne royal commission — the nation’s four major banks have a bigger problem to worry about right now.

If New Zealand’s all-powerful regulator Adrian Orr has his way, the big four will be passing the hat around for the next five years to raise an extra $NZ25billion ($23.5bn) in capital.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.