Australian treasurer urges banks to pass on any rate cut -media [Reuters (UK)]
AUSTRALIA&N Z BKG S/ADR (ANZBY)
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Source: Reuters
Australian treasurer urges banks to pass on any rate cut: media - Reuters 3 Min Read MELBOURNE (Reuters) - 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 Reserve Bank of Australia (RBA) is widely expected to cut rates on Tuesday to a record low of 1.25% from 1.5% in what would mark the first rate change in nearly three years. Treasurer Josh Frydenberg met with the bosses of Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank to discuss interest rates, Australia’s housing slump, regulatory supervision and a securitization fund, the Australian Financial Review said. “With the economy facing significant headwinds domestically and internationally, it is important that the banks are continuing to keep their lending book open and that they pass on in full to the public any benef
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