Why Australians may soon turn sour on their beloved banks

Australian savers have embraced bank deposits, hybrids and shares, but two events could eventually bring an end to the love affair.

Australians save differently to rest of the world -- we love banks. So today, with the help of Reserve Bank Deputy Governor Philip Lowe, I will detail the ‘bank love affair’ and then show how that love affair could eventually turn sour.

Even though interest rates have been falling, we have lifted our bank deposits and we have increased our buying of bank shares and hybrids.

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