Australian treasurer urges banks to pass on any rate cut: media
The rate, which reflects what the central bank charges commercial banks on overnight loans and influences the setting other interests rates, has sat at a record low of 1.5 per cent since August 2016. Mr Frydenberg met with the CEOs of the four big banks in recent days to urge them to pass on the benefits of a lower rate, if it happens.
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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.
Australians should have the full benefits of a likely cut to the official cash rate passed onto them, Treasurer Josh Frydenberg has warned bank bosses. The Reserve Bank is widely expected to drop.
The Reserve Bank has cut the official cash rate by 25 basis points, which should help mortgage holders but is being seen as a sign of a struggling economy.. treasurer urges banks to pass on RBA.
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.
The National Australia Bank, Westpac and the Commonwealth Bank immediately announced they would pass on the rate cut in full, meaning a monthly. pointing to “mixed” labour market indicators.
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.
MEDIA: Rachael Storey – 0467 741 310 Tuesday 6 december 2011 nsw treasurer welcomes RATE CUT AND URGES BANKS TO PASS ON IN FULL NSW Treasurer Mike Baird today welcomed the decision by the Reserve Bank Board to reduce interest rates for the second consecutive month and called on the Nation’s banks to pass the cut on in full to consumers.
As rising living costs go, families with children are inflation roadkill Under Chavez-Maduro socialism, the child mortality rate has increased 140%.. This year inflation will hit an unbelievable 10 million percent.. I've some very bad health in my family,” he says in a weak, scratchy voice that is. In other words, should the gain be defined as the change in the cost of living over the period.