Fed: Pass on rate cut in full: Opposition MPs say

AAP General News (Australia)
12-02-2008
Fed: Pass on rate cut in full: Opposition MPs say

CANBERRA, Dec 2 AAP - Coalition MPs have called on banks to pass on all of Tuesday's
expected cut in official interest rates.

Economists are tipping the Reserve Bank of Australia will cut its key cash rate by
as much as one percentage point, and the government is urging the major banks to pass
on to borrowers as much relief as they can.

Opposition small business spokesman Steve Ciobo criticised the government for not taking
a harder line with the banks.

"We've seen a very wimpish prime minister and a very wimpish treasurer," he told reporter.

"It's time that this government muscled up to the banking sector and demanded that
they pass on in full any further rate cuts."

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KEYWORD: RATES MPS

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