For all the readers who have a credit card, a mortgage or a loan, the question of the hour would definitely be that why their mortgage, interest and credit card rates are still so high. And regarding this, a bid in Parliament came today to find out why.

However, it went into aggressive opposition, and, surprisingly, from the government and not from the banks.

Many customers have lost charm for banks now, and a few MPs want the banks to provide with an explanation as to why interest rates are so high, especially when the banks are buying money at much cheaper rates. However, it should be noted that the inquiry is being carried out by the opposition parties and not the Government.

Labour leader Phil Goff said: "It's not a farce and it's not a stunt. This is a serious inquiry into a serious issue."

According to John Key, "I just don't think we need an inquiry. I don't think a group of backbenchers sitting around will give us any different information from what we don't already know."

Greens co-leader Russel Norman confirms, "We think the banks have a right to defend themselves and to put their point of view, but we also think the public have a right to ask questions of the banks."

Jim Anderton concluded, "Overseas banks, mainly Australian of course, took $11.7 billion out of New Zealand last year in interest and profits."