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Australian Greens

Greens want loans tied to cash rate moves

Australian Greens 26%

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The Australian Greens will be seeking backing from the federal parliament to make retail banks offer mortgages and small business loans that are linked directly to movements in the official cash rate.

 

The proposal comes after something of a stand-off by the big four banks after the Reserve Bank of Australia (RBA) cut the cash rate on Tuesday.

 

It was broken by the ANZ Bank on Thursday when it announced it would be pass on the full reduction to mortgages and small business lans.

 

The other major banks - Commonwealth Bank of Australia, National Australia Bank and Westpac - have yet to announce their intentions.

 

Read more: 9NEWS (Dec 8 2011)


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