Interest rate cuts in the past week have encouraged retailers on the Gold Coast to cautiously predict a good Christmas return this year.
However, Gold Coast retailers are dismayed by the banks’ refusal to pass on the full 25 basis points drop in rates.
Gold Coast Business News reports that the full drop in interest rates would equate to around $48 a month on a $300,000 loan over 25 years.
A recent medial release from national retailer, Myer, predicts an uncertain outlook due to continued tough retailing environment and subdued consumer confidence.
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