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RBA
RBA: VIEW: TD Securities write "we are against (RBA) cuts as (1) cuts are
unlikely to be passed on except to the highest quality borrowers, a cohort that
doesn't have trouble borrowing at present; (2) the AUD is already 10c lower than
a year ago and currently trading below  fair value; and (3) we doubt that the
RBA wants to counteract the good work that APRA and the Banking Royal Commission
has had on strengthening bank balance sheets and taking the froth out of house
prices in the major capital cities."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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