It gets to a point where it does become a joke. Commonwealth Bank, the bank that is determined to be different are showing their point of differentiation in the market place by lifting its mortgage rate by more than the latest Reserve Bank increase.

Wayne Swan expects customers will be “furious” and he will soon be delivering a package that will make it easier for borrowers to switch banks if they are not happy, so they can “vote with their feet”.

I guess CBA are looking at recouping some of their costs from Goodby, so they’ve deemed this the first step.