Governor to 4banks : Guys what's your opinion? hold on or down? 4 banks : why don't you increase the rate? Governor : Hey guys I can't do that because already I am stretching too much for you guys. I am useless without you guys. Already you guys are increasing rates against my decision. see Company profits data is down. Business confidence is down. Housing is down and will go down further. News paper jobs ads are down 6%. (ANZ jobs online ads 3% positive, thanks for helping me like always) Retailers growth is down. Dollar is not helping economy.(it is helping you guys to burrow cheap money) How much time you guys want.
4 Bnaks : Look our burrowing cost is coming down but let us make some more profit. You said company profits data is down. Governor : Not banks profit. You guys are making record over records each quarter. Governor : all right then I will keep it on hold.
