How corporate profits are making inflation worse
7am
00:00
Corporate Profits Drive Inflation
Evidence is mounting that corporate profits are driving inflation in Australia. Rod Sims, former head of the Competition Commission says he has no doubt it's happening. The banks have taken advantage by jacking up the amount of interest they charge their borrowers much more than what they pay to people with savings accounts. And interestingly, the banks are not even pretending that it's anything other than them gouging perhaps a harsh word, but increasing their margins.
Play episode from 09:22
Transcript
