Unfair bank practices designed to undermine advisers have incurred the wrath of the Professional Advisers Association (PAA) and prompted it to go into bat for its members.
Watchful caution is guiding the Reserve Bank’s policy so it will need strong evidence before it makes any change to the OCR, economists say in response to this morning’s OCR call.
The Reserve Bank today left the Official Cash Rate unchanged stating major challenges still remain.
SBS Bank’s result for the financial year to 31 March 2017 includes its strongest ever net surplus of $27.4 million, up 37% from $20.0 million the previous year.
Any change to the OCR on Thursday would stun economists who are unanimous in thinking that it will be left firmly on hold.
Mortgage advisers, indeed all RFAs, should be worried, very worried about their future.