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ABA repeats: No need for banks to pass on rate cuts in full

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Australian Broker | 07 Dec 2012, 08:00 AM Agree 0
The ABA says banks don't need to pass on the full rate cut in order for borrowers to reap benefits
  • Allan Faint | 07 Dec 2012, 10:42 AM Agree 0
    so we have confirmation the banks have increased their margins by at least 1.5% since the GFC and the demise of competion with the death of wizard and the purchase of Aussie and other. Will the RBA continue with this collusion when the rates start going up by allowing further profiteering as they go for more resord profits.
  • Jerry Gibb | 07 Dec 2012, 11:00 AM Agree 0
    I have only one comment for this person"CRAP"
  • Dave | 07 Dec 2012, 11:09 AM Agree 0
    Come on, Munchenburg is brilliant!
    I wish he worked for my business. How to take a heap of profiteering & make it sound like your doing the right thing by everyone. Every time I hear him speak I just love how he can make the banks seem like their saving the economy.
  • scopher | 07 Dec 2012, 11:28 AM Agree 0
    This is what he gets paid to say! Spin spin spin...
  • Greg Marshall | 07 Dec 2012, 12:42 PM Agree 0
    With world economies in turmoil and interest rates globally at record lows, many at or close to zero percent, it seems strange that funding costs from overseas sources, as the ABA tells us, could be higher than Australia's central Bank cash's rate and Mr Lowe's comments conflict with that theory.
    Short term deposits are certainly not at 6% these days. So the question must be asked if even Bank Shareholders are getting a fair return on their investments at around 4% during times of unprecedented record profits or are Bank executives and Boards reaping excessive rewards in a case of "Nest Feathering"?
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