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Cash rate target

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Cite as: April 2012 86 (04) LIJ, p.64

From 6 December 2007 law practices whose matters are governed by the Legal Profession Act 2004 cannot use the penalty interest rate for their accounts. The maximum rate is the cash rate target plus 2 per cent. The cash rate target is currently 4.25 per cent (from 7 December 2011). To monitor any changes between editions of the LIJ, practitioners should check


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