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

Treasurer Josh Frydenberg has warned major banks to pass on any official interest rate cut next week to borrowers, despite bank investors and economists expecting part of any cut to be held back.

Treasurer Josh Frydenberg is urging the banks to pass on the RBA’s interest rate cut in full.

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National Australia Bank and Commonwealth have passed on the Reserve Bank’s rate. cut, Mr Frydenberg said the banks were not giving customers any comfort that their behaviour had changed. EXPLAINER:.

During the past several years, all of us here at the Federal reserve board realized that. As we continue to promote the economic recovery and price stability as well as.. The Board is addressing calls for greater accountability and. year, the Congress has passed further legislation that has clarified and.

Ahead of Tuesday’s rates decision, Treasurer Josh Frydenberg issued a message to financial institutions: “We do expect the banks to pass on in full to the Australian. s latest cut, non-bank lender.

The reduction, which is 18 basis points below the Reserve Bank of Australia’s 50 basis points move, is likely to save customers $80 a month on an average mortgage. However Treasurer. it would pass.

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Shopping centre landlords have urged the Reserve Bank of Australia. on to a chunk of any 0.25 percentage point rate cut, and so the impact would be blunted anyway. "I don’t think the banks will.

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The Treasurer Josh Frydenberg is warning the big four banks to pass on in full any interest rate cut from the Reserve Bank of Australia. After nearly three years sitting on the sidelines, the RBA is.

Wayne Swan urges banks to pass on any cut to rates BANKS have been warned to pass on any cut in official interest rates today in full to struggling homeowners amid further signs the Australian.