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Banks under pressure over interest rates

AAP

AAP Source: AAP

The Reserve Bank has cut official interest rates to a record low of one-point-five per cent. The bank decided to cut the cash rate reflecting concerns about inflation and economic growth.The Prime Minister is calling on the chief executives of Australia's biggest banks to explain why they haven't passed on full official interest rate cut.


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By Peggy Giakoumelos, Ricardo Goncalves, Amir

Source: SBS



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The Reserve Bank has cut official interest rates to a record low of one-point-five per cent. The bank decided to cut the cash rate reflecting concerns about inflation and economic growth.The Prime Minister is calling on the chief executives of Australia's biggest banks to explain why they haven't passed on full official interest rate cut.



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