Mon, 07 Nov 2011 13:43:07 GMT
Australians expected to save rather than spend
Gail Kelly, CEO of Westpac Banking Corp, claimed the
additional money gained coming from central bank's interest rate cut most
likely will be used either to increase savings or to repay loans. She indicated
that Australian consumers currently are very cautions towards extra spending. Kelly
suggested the Reserve Bank of Australia should apply further repo reduction. According
to her, Australia economy will experience growth when