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Brokers warned not to expect banks to follow RBA

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Australian Broker | 04 Dec 2012, 08:00 AM Agree 0
The market has been warned by the banking industry's peak body that while the Reserve Bank is likely to cut rates today, the decision may not be reflected with cuts across the banking industry
  • Skeptikal | 04 Dec 2012, 11:09 AM Agree 0
    It is t the Brokers the Banks are hurting by not passing pn the cuts it is the public and the economy
  • sidbroker | 04 Dec 2012, 12:52 PM Agree 0
    Mr. Swan abolished exit penalties. Some banks have taken back ground by keeping a slice of each rate cut to boost their bottom line to make up for it. We are all now paying instead of the borrowers who move around. So this begs the question who is actually running this country? Thanks Mr. Swan.
  • Broker | 04 Dec 2012, 12:54 PM Agree 0
    I would be 100% certian that there is not a Broker in the country that would back one of our major banks to do the right think and pass it on in full,and then communicate this to a client....but you never know , the banks may well play the Christmas Spirit game!.. I;e get some positive media for a change and then just shaft their customers next time to make up for their perceived Christmas generosity
  • Thomas | 04 Dec 2012, 04:08 PM Agree 0
    Sid- you know as well as anyone knows that brokers gave the banks all the power when they abandoned ship on everyone not named ANZ, WBC, CBA or NAB in the years 2008-2012. Dont blame Swan. Look in the mirror. You think banks would be jerking people around if they didnt dominate the market share? Support other lenders Sid.
  • Broker - 14 Years | 04 Dec 2012, 04:59 PM Agree 0

    Pass on less than the full rate cut to borrowers at your own peril, for there are many smaller Banks & Lenders who have more competitive loan products just waiting for the Big Bank customers to finally say "Enough is enough".
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