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NAB, BoQ won't pass on full rate cut

National Australia Bank and the Bank of Queensland have become the first banks to lower interest rates, but both say they won’t pass on the full 50 basis point cut recommended by the Reserve Bank of Australia.

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Believe me it is a cartel, a strong nexus between all big banks. “You start and don’t pass on the full cut by RBA and we will follow” is the attitude by banks. They make hefty profits yet they say they are struggling. What nonsense? They think that the people are fools. On the other hand the treasurer just shouts at his end, “banks should pass on full” what BS……. The government tries to save their image and jobs. Has anybody really worry about the common people? The gas prices has increased the electricity bills have increased, The rents are on the roof top. WE need action from government just not false words and shouts from the background as Julia and Wayne does………………

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