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Podcast: The Front Page
Episode: Do we need more competition and regulation in the banking sector?
Description: An inquiry into New Zealand’s banking competition, or lack thereof, is currently underway. Finance Minister Nicola Willis announced it in June, putting particular emphasis on rural banking and lending. A ComCom market study has already, unsurprisingly, found a lack of competition among our largest financial institutions – with a full report due next month. So, what does it all mean for the average Kiwi consumer – and is there hope on the horizon for some healthy competition? Today, Victoria University of Wellington associate professor of economics Martien Lubberink takes us through the state...