Push For Credit Card Relief
Illawarra Mercury
Tuesday December 9, 2008
AUSTRALIAN Retailers Association members in the Illawarra are among those from across the nation encouraging the banks to pass on the Reserve Bank of Australia's interest rate cuts to credit cards.
ARA executive director Richard Evans said while last week's interest rate cut of 1.0 percentage point was great news for mortgage holders it meant nothing to people struggling with growing credit card debt. He said the RBA and the Rudd government were doing their jobs cutting interest rates and implementing measures to stimulate spending but even more could be achieved if all the banks also passed on the official interest rate cuts.The association said that would help working families paying rent and small business owners who use credit to fund their cash flows.
© 2008 Illawarra Mercury
