FEAR & GREED | Business News CBA boss attacks RBA; no rate cuts in foreseeable future; ASX tumbles
Nov 18, 2025
The Commonwealth Bank's CEO criticizes big tech for evading regulations that banks face. The Reserve Bank indicates no imminent interest rate cuts, impacting market reactions. The ASX suffers a significant downturn, with banks and miners notably affected. A tragic incident highlights emergency call issues with outdated Samsung phones. Meanwhile, personal insolvencies rise for the third consecutive year, raising concerns about financial health. Additional international tensions unfold between China and Japan over Taiwan.
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Tech Firms Versus Banks
- Matt Comyn argues global tech firms enjoy unfair advantages over Australian banks due to lighter regulatory and capital requirements.
- He urges policymakers to treat payments as critical infrastructure and level the playing field.
Regulators Should Define The System
- Regulators should clarify the desired future structure of banking and payments systems.
- They must balance bank safety with fair competition for tech payment providers.
RBA Signals No Imminent Cuts
- Reserve Bank minutes indicate no rate cuts unless inflation data weakens noticeably.
- The RBA sees underlying inflation possibly higher than previously assessed, delaying rate relief.