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Australia's big four banks will face a new inquiry

Josh Frydenberg has asked the ACCC to investigate why banks did not pass on interest rate cuts to customers in full

Josh Frydenberg has asked the ACCC to investigate why banks did not pass on interest rate cuts to customers in full Source: AAP

Australia's big four banks will face a new inquiry over their failure to pass on official interest rate cuts to customers in full. Treasurer Josh Frydenberg has asked the competition watchdog to examine why mortgage holders are being charged rates well above the record low cash rate.


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By Nakari Thorpe

Presented by Vahe Kateb

Source: SBS



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Australia's big four banks will face a new inquiry over their failure to pass on official interest rate cuts to customers in full. Treasurer Josh Frydenberg has asked the competition watchdog to examine why mortgage holders are being charged rates well above the record low cash rate.



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