Original article by Clancy Yeates
The Australian Financial Review – Page: 16 : 24-Jun-15

Data from the Reserve Bank of Australia shows that the average credit card interest rate has risen to 19.75 per cent since the currency monetary policy easing cycle began in 2011. The cash rate has fallen to just two per cent over the same period. MWE Consulting’s Mike Ebstein attributes this to the fact that the proportion of credit card debt that is accruing interest has fallen from 73.7 per cent to just 65.6 per cent, with more consumers opting to pay their entire credit card debt each month.

CORPORATES
RESERVE BANK OF AUSTRALIA, MWE CONSULTING PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, CONSUMER ACTION LAW CENTRE