Central Banking

RBA is losing minds in credit card battle

FEATURE - The Reserve Bank is digging itself into a hole in its new role as a consumer advocate and risks damaging its relations with the banks over its efforts to "reform" Australia's credit-card system.

Originally by Mark Westfield in The Australian, 19 March

No longer, on this issue at least, is it primarily concerned with system stability, but with making noises that it is acting for consumers. In a perverse way, its proposals will actually leave consumers worse off.

The RBA appears to be mo

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