Former Reserve Bank governor Glenn Stevens used to get them and now current governor Philip Lowe, after making his first interest rate cut, is getting them too – angry letters from savers.

After cutting the official rate by 0.25 percentage points to a new record low of 1.25 per cent, Dr Lowe said he was now the recipient of letters and emails expressing disappointment and that he was expecting to receive a lot more of them into the future.