‘Very hard’ for people affected by interest rate and floods ‘double whammy’

Australian Banking Association Chief Executive Anna Bly says some people have been hit “very hard” by the “double whammy” of interest rate hikes and the disaster during this period.

“I think sometimes for people that kind of experience can feel incredibly overwhelming and hopeless,” she said.

“What I can say is that the best chance their bank will help them in a very practical way is if they talk to their bank ahead of time.”