I doubt the banks wouldn't be able to get funding cheap enough to offer 3% rates. RBA can slash rates but imo the banks would still need to charge over 3%..if the economy suffers from a change in NG there is more likely to be bank funding cost would go up due to increase mortgage default risk...
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- "RBA Slashes Rates."
I doubt the banks wouldn't be able to get funding cheap enough...
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