How big banks profit from rising rates | ABC News Daily Podcast

How would you feel if a bank made you guarantee in writing that you would move back in with your mother if you couldn’t pay your home loan anymore?
It’s the sort of agreement people are being forced to make as the Reserve Bank continues to raise interest rates. Subscribe: https://ab.co/NewsDaily

In this episode, ABC business editor, Ian Verrender, on the incredible profits the banks are making as hundreds of thousands of people struggle to make ends meet.

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