Breaking News:THE competition regulator has accused ANZ Banking chief executive
Mike Smith of price signalling interest rate movements.
Australian Competition and
Consumer Commission (ACCC) chairman
Graeme Samuel also said the regulator would still consider mergers in the banking sector, but would take a cautious and conservative approach.
Mr Samuel told the
Senate Economics Committee's inquiry into bank competition that if a bank chief said they would prefer to not move interest rates, but didn't want to be left behind their competitors, then that would be price signalling.
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