Australia’s Treasurer Urges Banks to Pass on Full Reserve Bank Interest Rate Cut

Australia’s Treasurer Urges Banks to Pass on Full Reserve Bank Interest Rate Cut
Treasurer Josh Frydenberg gives a press conference at Parliament House in Canberra, Australia on Nov. 27, 2018. Tracey Nearmy/Getty Images
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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 June 4, which Frydenberg says should help mortgage holders.

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