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PM and Little at odds over mortage rates

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NZ Adviser | 15 Mar 2016, 04:24 p.m. Agree 0
  • Annoyed with banks | 15 Mar 2016, 05:11 p.m. Agree 0
    I'm a National supporter, but in this argument I'm with "Little" the big banks are milking the system. Their excuses of cost of funds is a load of rubbish, just listen to the CEO from the people's bank! He agrees with the reserve banks recommendation, saying their is no reason to withhold the full reduction of 25 basis points!!
  • Sparks | 16 Mar 2016, 10:10 a.m. Agree 0
    It's interesting the Banks not passing on the full OCR reduction are Australian owned. NZ is seen as a profit centre. The bottom line is all important, to the extent of all else. They are big enough to give the thumbs up to the Government and will continue to do so. Customers can protest by transferring their business to the Banks that have acted in the spirit of the OCR cuts.
  • NoNonCents | 17 Mar 2016, 09:27 a.m. Agree 0
    Banks are a business like any other, albeit bigger than most. If Government should be allowed to control the price they charge (rather than influence it) should they be allowed to control the price other businesses can charge for their goods and services? If the Banks don't get their income from interest they'll get it from fees. If they cant get it from fees they'll close down branches and sack people. Be careful what you wish for.
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