Cuts to interest rates 'not enough to please Aussies'

Mozo

Tuesday 24 January 2012

Aussie business owners still appear to be wary of the country's major banks, despite the fact that adjustments to interest rates were made at the end of last year.

A new satisfaction survey conducted by DBM Consultants found that attitudes towards ANZ Banking, Westpac and the Commonwealth Bank have actually declined slightly when compared with November 2011, the Australian Associated Press reports.

Managing director at the organisation Dhruba Gupta told the news provider that although two cuts were made to rates, the overall state of the economy is worrying many Aussies.

"Worsening or more uncertain economic times put downward pressure on satisfaction. Any relief from rate cuts takes a back seat," the leader commented.

However, the research did show that people looked upon the National Australia Bank more favourably, as confidence in the institution grew.

Commsec's chief economist Craig James recently told the Herald Sun that the Reserve Bank is likely to introduce another interest rate cut in February, as unemployment has increased across the country.

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Cuts to interest rates 'not enough to please Aussies'
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