CBA Data on Interest Rates Hitting Older and Younger Customers Differently

The Commonwealth Bank reported a $10.2 billion cash profit this week. CBA also released some fascinating data on the way interest rates are hitting older and younger customers very differently. The older Australians are sitting on very expensive property, big superbalances, and they're enjoying really good interest rates. On the other side of the coin, you've got younger people really struggling. They're digging into their savings, they're running down their savings, particularly if you're aged under 24 or even between 25 and 34. And their spending is falling off. So, we've really got this big divide between young and old as interest rates rise.