Now is the time to start designing products for a low (0%?) interest rate environment in Australia.

Motor vehicle manufacturers in USA are already offering 0% finance (see Wall Street Journal here).

US credit unions already offer a 0% student credit card (TDECU) and others (Addison Avenue Federal Credit Union here) are offering unlimited, fee-free access to ATMs and accounts with the following:
• No monthly fees
• Free online banking and bill pay
• Transfer funds electronically
• Free E-Statements
• Free direct deposit
• Free online check safekeeping
• Free automatic overdraft transfers

Scenario planning should start now. And don't forget to involve your legal and compliance advisers.

(Thanks to CU Tomorrow for links).