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One Response to “Modest reduction in interest rate”
By admin on Apr 7, 2009 | Reply
Domain.com.au spokesperson Anthony Ishac comments, “The RBA has responded to deteriorating market conditions with a conservative 25 basis point cut, bringing the cash rate down to a 49 year low. The areas of most concern are worsening retail sales and rising unemployment. Despite this action, the major banks have already signalled that this and any future cuts may not be passed on in full to mortgage holders”.