Australia's treasurer has told the heads of the country's big four ban...
MELBOURNE - 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.
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.
Inflation has remained under the RBA’s 2.3% target band and unemployment has ticked up to an eight-month high of 5.2% from a low of 4.9% in February.
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