Treasurer Josh Frydenberg has told bank bosses that Australian's should have the benefits interest rate cuts passed onto them.
The Reserve Bank is expected to drop the official cash rate to 1.25 per cent today [[Tuesday june 4]] to help lift employment conditions and preserve its inflation target.
The rate has sat at a record low of 1.5% since August 2016.
If the benefits of the cut are fully passed on, borrowers with an average home loan of $400 000 would save about $58 on their monthly repayments.
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