AFR rate cut war cries crocodile tears for savers

The AFR’s war on rate cuts has shifted gear today, first Jonathon Shapiro:

For those who are ultra-careful with their money, the billboards outside bank branches in 2009 advertising 8 per cent deposit rates must have felt like a welcome reward for conservatism.

…for now, the savers may lament they are being forced to subsidise the rescue of profligate borrowers who were lent too much.

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