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Small business needs rate cut now:ACCI
19-August-08
Written by AAP
Small business is being hit hard by a slowdown in the domestic economy and needs an interest rate cut now, the Australian Chamber of Commerce and Industry said.
Any cut by the Reserve Bank of Australia (RBA) should be passed on in full by the commercial banks as new data showed both business conditions and confidence were at their weakest level in at least 12 years, the chamber said.
"The RBA at its September meeting should really take account of the impact of the slowing domestic demand and the particularly severe impact it has had on small business," ACCI director industry policy and economic Greg Evans told reporters in Canberra.
Article continues...
19-August-08
Written by AAP
Small business is being hit hard by a slowdown in the domestic economy and needs an interest rate cut now, the Australian Chamber of Commerce and Industry said.
Any cut by the Reserve Bank of Australia (RBA) should be passed on in full by the commercial banks as new data showed both business conditions and confidence were at their weakest level in at least 12 years, the chamber said.
"The RBA at its September meeting should really take account of the impact of the slowing domestic demand and the particularly severe impact it has had on small business," ACCI director industry policy and economic Greg Evans told reporters in Canberra.
Article continues...
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