Lender

Rudd cautions banks of rate rise risk

by Staff Reporter•Monday, 3 Dec 2007•7 minute read

Prime Minister elect Kevin Rudd today cautioned commercial banks against raising interest rates over the Reserve Banks’s cash rate.

Speaking on ABC radio, Rudd urged the banks to consider the “financial pressure” Australian families have been under. The RBA will meet on Tuesday to discuss monetary policy.

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Rudd cautions banks of rate rise risk

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