Banks get free interest on $188 billion thanks to taxpayers - Senate Estimates 10.11.22

During the pandemic the RBA decided it was a good idea to lend $188 billion dollars to the banks at an interest rate of around 0.10%.
The term of the loan extends to 2024.

While many of you lost your jobs, incurred an injury, had to close your business, or got locked down etc, the banks were being lavished with free money.

They are currently lending this money at between 3 to 5 percent skimming approximately $8 billion a year out of taxpayer pockets.

This just goes to show how our bureaucrats like the RBA are serving the elites while enslaving the battlers.