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Banks drag the chain on business rate cuts
When the Reserve Bank cut interest rates, home owners arm-wrestled the banks into passing on the cut. But, as Rohan Gamble finds, small businesses aren’t as lucky:
“Small businesses aren’t just missing out on full rate cuts, business lenders are taking almost double the amount of time to implement the rate reductions.”
Test banking for small business
Rohan Gamble weighs up Australian business bank packages with their UK counterparts.
“You’d like to think a more robust economy that isn’t teetering on a gut-wrenching debt precipice would fare pretty well in the financial services stakes – especially now that the taxpayer is guaranteeing savings and all that.”