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You can read the official press release from yesterday’s Reserve Bank of Australia (RBA) board meeting here.
In a couple of weeks the RBA will release the full minutes of the meeting. If the official version is anything like the previous versions it will mention international economic conditions, domestic economic conditions, financial markets, and considerations [...]

Westpac Banana Drama Video
Who’s going bananas ?

http://video.ninemsn.com.au/video.aspx?vid=0e55d1f5-d992-4529-8e84-2a579985434c&from=articleinline&fg=money^newsandanalysis^981507
Here is the spoof version of the Westpac Banana video clip

Ref :http://mumbrella.com.au/westpacs-banana-video-translated-14000
Westpac has been forced to remove an animated video on its website comparing its interest rate rise to the cost of bananas.
A spokeswoman for the bank said: “Following the feedback we have received today we have removed the [...]

Your editor is on a double shift today. We’re switching between writing today’s Money Morning and filling in for Dan Denning at Daily Reckoning.
Over at Daily Reckoning we gave the Climate Change ‘tree’ a bit of shake. You can check out what we had to say later on today after our webgeeks post [...]

Well we couldn’t find any Westpac bankers to high-five yesterday. It seems they were keeping their head down to avoid the flak.
Which is a shame because they should be holding their heads high for an ingenious move.
Sure, it may not pay off quite as they planned due to the ’scabs’ at National Australia Bank [...]

This morning we were going to congratulate Westpac on their mind-blowingly ingenious move of increasing interest rates by 0.45%, even though the Reserve Bank of Australia (RBA) had only increased rates by 0.25%.
Don’t believe all the spin about ‘higher funding costs.’ There’s much more to it than that. What Westpac has done is [...]

Your editor is back this morning. We notice that Shae admirably held the fort yesterday.
Although we were a little worried as we asked her yesterday morning what she planned writing about…
“Can you take over the Money Morning reins this morning as I’ve got to get Australian Small Cap Investigator out the door today?”
“Yeah, sure,” [...]

The stock market reaction to Westpac’s loss in its New Zealand court case was wonderful.
If you haven’t seen the news, then you won’t know that Westpac has been told it must pay almost $1 billion in back taxes to the New Zealand tax office.
The response from the market? Westpac shares finished 3% higher.
That reader, [...]

Bank fees can be very confusing. With several banking products available in the market, and with different terminologies used to describe the nature of the fees charged on these accounts, it is no wonder consumers often get confused or lose track of the fees they are paying. A simple understanding of when and where you [...]

Due to economic slowdown, Australia’s Westpac bank still promised to maintain its dividend, despite some speculation that its balance sheet growth is set to slow over the coming year.On the wider economy, Mr Evans noted that while the Reserve Bank of A…

The increase of 6 percent profit on its annual gain that Westpac has recently recorded is an evidence that the bank has shrugged off the effect of slowing economy over the past six months.And with an increase in costs held to 7%, the cash profit figur…