AFR rate cuts whaaambulance reaches intensive care unit

Chanticleer is at it again today:

At the end of a huge week for the big four banks, it’s time for those reliant on dividend income to think hard about the longer-term implications of official interest rates being lower for longer.

There is no need to panic. But as official rates set by the Reserve Bank of Australia move to 1 per cent and possibly 0.75 per cent over the next six months, there will be enormous downward pressure on bank profitability.

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