The spread between the Reserve Bank's official cash rate and the deeming rate is now the largest since the Keating Labor government, data compiled by AFR Weekend shows.
For over a decade the cash rate was higher than the deeming rate but that reversed, firstly under the Rudd and Gillard government when the deeming rate stayed at 4.5 per cent but the cash rate dropped to 3.5 per cent.
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Duncan Hughes was a reporter at The Australian Financial Review
Matthew Cranston was The Australian Financial Review’s United States correspondent.
