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Australia's big four banks will face a new inquiry

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Treasurer Josh Frydenberg at the National Australia Bank National Small Business Cyber Security Summit at Parliament House in Canberra, Monday, October 14, 2019. (AAP Image/Mick Tsikas) NO ARCHIVING

Treasurer Josh Frydenberg at the National AUstralia Bank National Small Business Cyber Security Summit at Parliament House 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. Praba Maheswaran has the story in Tamil written by akari Thorpe for SBS News.

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By Praba Maheswaran

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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. Praba Maheswaran has the story in Tamil written by akari Thorpe for SBS News.

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