Australian treasurer urges banks to pass on any rate cut: media

Banks may not pass on full rba rate cut prime minister Scott Morrison (right) and Treasurer Josh Frydenberg leave the Reserve Bank of Australia building in Sydney last week after a meeting with.

Treasurer Josh Frydenberg has rapped ANZ Bank over its failure to pass on the RBA’s rate cut in full today, saying it had "let down its customers". ANZ ignored calls by the Morrison.

Australia’s treasurer has told the heads of the country’s big four banks that the government wants them to pass on in full any cash rate cut by the central bank, media reported on Tuesday.

The rate, which reflects what the central bank charges commercial banks on overnight loans and influences other interest rates, has sat at a record low of 1.5 per cent since august 2016. shadow treasurer jim Chalmers said the "wages crisis" was a key reason for the cut.

The Coalition’s retirees’ advocate MP Tim Wilson has questioned the need to cut. Treasurer Josh Frydenberg and some other Coalition MPs who have been urging the big banks to make sure they pass on.

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Treasurer Josh Frydenberg is urging the banks to pass on the RBA’s interest rate cut in full. An historic interest rate cut and lower income tax could benefit two-income families to the tune of.

Josh Frydenberg showed this morning that the votes are with the mortgage holders as he called on the banks to pass on any cut without. banks will pass on a cut to mortgage holders in the event that.

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Swan urges banks to cut rates. Updated October 03, 2012 10:24:00 The Federal Treasurer is urging banks to pass on yesterday’s interest rate cut in full, though concedes that history would suggest.

Treasurer Josh Frydenberg met with chief executives of Australia’s major banks in recent days to urge them to pass on the full value of any rate cut to borrowers. "I expect all banks to pass on.

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Treasurer Josh Frydenberg is urging banks to pass on the full extent of the Reserve Bank’s historic interest rate cut to its customers. The RBA cut the official cash rate by 25 basis points on.