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Banks 'ridiculously slow' to pass on cuts

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Australian Broker | 19 Aug 2014, 07:40 AM Agree 0
A former ACCC chairman has called out Australia's banks for not passing on rate cuts, and a broker association head has applauded the comments
  • Country Broker | 19 Aug 2014, 09:09 AM Agree 0
    Allan Fels is a warrior and his comments are timely , well done.
    Pity the current lots at the ACCC are not as vocal or seen to be active.
  • greg | 19 Aug 2014, 09:39 AM Agree 0
    Spot on. banks have record profits.
    banks new economy stalling past 5mths and just selectively cutting fixed rates that only 27% of market accepts not good enough. Their variable rate should be cut 0.25% asap.
    You know its getting tougher even for banks when their own bankers/bdms chase us up each week for business!!
  • Matt | 20 Aug 2014, 07:58 AM Agree 0
    What about the threat of a banking tax on the mega profits or cut the rates..........
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