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RBA sparks anger with rate hold

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Australian Broker | 08 Feb 2012, 05:00 AM Agree 0
The Reserve Bank rendered moot much of the discussion surrounding bank funding costs this month when it chose to hold the cash rate steady
  • Lindsay | 08 Feb 2012, 10:36 AM Agree 0
    Well here is an opportunity to see if the banks have the guts to move independently of the reserve bank. If the economist are right then the banks can drop the rates themselves independent of the RBA. This debate should go both ways.
  • ozboy | 08 Feb 2012, 03:49 PM Agree 0
    I fully expect the banks to increase rates in the next 10 days. They have been telling us all that they are paying more for their funds and have thin margins etc etc (sorry I am tearing up so it's hard to concentrate) so if they don't put up rates then was that not the truth?
  • JBJB | 09 Feb 2012, 09:45 AM Agree 0
    Umm, Nab announces a record profit for the 3 months to Dec 11 up 8% on the same time the previous year. NAB, that's the one with the lowest mortgage rates, correct? So why all the sympathy when they cry poor? Honestly, the media sell the story of Bank poverty making it too easy for the Banks to respond with impunity. Get off the Bank poverty story and let the Banks justify any increases to an unsympathetic public by themselves. Then they can announce their record profit afterwards.
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