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Brutally competitive deposit rates as banks woo savers
Thursday 13th of August 2009
"The fact that borrowers are paying higher margins has received much attention," the report says. "But how often have we read that many retail deposit rates are presently above the Official Cash Rate - a phenomenon which is almost unprecedented and reflects the vlaue the banks are lacing on customer deposits as a source of funding.
"In our opening, banks are paying for customers fo...
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