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Borrowers banking on February rate cut

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Australian Broker | 01 Feb 2012, 05:00 AM Agree 0
Borrowers are anticipating yet another rate cut when the RBA meets next week, echoing the sentiments of most economists
  • JERRY gIBB | 01 Feb 2012, 11:09 AM Agree 0
    It is a mystery to me why after at least 30 yrs that when the reserve cut or put up rates the Banks followed suit. Suddenly 2011/2012 we are told by the greedy banks that if the reserve takes such action we should not expect the banks to follow. As rates go down does this mean when the cycle changes , which it will the banks will not pass on the full increase to the poor old consumer. If anyone believes this then they are on a different planet. Gillard and Swan wake up to yourselves and pull these organisations into gear and protect the consumer you are very good in championing their cause on everything that makes little difference to our pocket, for an example the new NCCP laws. Get tough with this industry or are you happy to see their profits continue to grow at the consumers expense under the guize of cost of funds.
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