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(October 27, 2011)
Banks have no excuse to not cut rates if the Reserve Bank does so next week, Treasurer Wayne Swan says. The Reserve Bank is widely tipped to cut rates next Tuesday. If it does so, this would be the first cut in two and a half years. Mr Swan today declined to predict any rates movement. But he said the Reserve Bank's recent statement made it clear the board believed there was room to move. "There's certainly no excuse for the banks not moving down if the Reserve Bank was to cut rates," Mr Swan told ABC radio. |
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