Banks Cunning Tactic to Raise Interest Rates on Friday's

There is a good reason ANZ and the banks that followed announce interest rate rises on a Friday. It was also at the end of the previous week NAB started the interest rate increases.

The reason is that on a Friday most people are looking forward to the weekend and most companies including media companies are winding down for the week so politics is not on peoples minds like it is early in the week.

How many stories were on the media over the weekend on this? Very few. how many people were discussing the rate rise, very few.

Very smart ANZ.!

 

ANZ have been making their rate announcement on Fridays for several years. They do this every 2 weeks. They "de-linked" their rate announcements from the RBA a long long time agao, after the GFC

 

Not exactly cunning - as euro has said ANZ has been putting their announcements out on Friday's for a significant while in an attempt to shift the conversation from being rate cuts/rises every RBA meeting. These same announcements for rate cuts come out on Fridays - I'm sure they'd want to get the news out to as many people as possible on those.

 

ING announced today. Today is not Friday. I wish it was.