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ANZ says bank backlash is subsiding

16/05/2012

ANZ Bank's head of Australian banking, Phil Chronican, says he suspects the backlash against the big banks over interest rates is subsiding after the subdued response to ANZ's decision last week to cut mortgage rates by only 37 basis points after the Reserve Bank's 50-basis-point cut in the official cash rate.

“I feel we've moved the debate on and that the commentary over recent weeks is evidence that at least people are now thinking more seriously about what the real issues are.”

Source: The Australian



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