Chief executive of the National Australia Bank, speaking at the announcement of the bank's half-year results in Sydney,

Said the Reserve Bank of Australia cutting rates is unnecessary, would do little to stimulate the economy, and unlikely to deliver any economic benefit.

  • Whether or not there is an interest rate cut I don't think it will have much effect and I don't think that the last two had much effect either,

Recall yesterday ANZ CEO said pretty much the opposite (link):

  • "Maybe a rate cut would be a good thing, put a bit more juice into the economy and put a few more people in employment."

Via AFR

Chief executive of the National Australia Bank, speaking at the announcement of the bank's half-year results in Sydney,

Poor chap, no wonder he is confused.