Here’s the CBA chart from this afternoon, showing the price action during and after prime minister Malcolm Turnbull appeared to announce he would call the banks to explain their rates decisions to a parliamentary committee each year.
Other banks saw a similar bounce.
Put simply, if traders and fund managers saw this as a posing a significant problem for the banks, the opposite would have happened and the banks would have sold off.
For now, the market is not fussed.
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