Fed: CBA will pass on in full interest rate cut = 2

AAP General News (Australia)
12-02-2008
Fed: CBA will pass on in full interest rate cut = 2

Mr Swan urged the other major banks to do the same, minutes after the central bank
announced its decision.

"This is a vital rate cut ... delivered at a time when all our joint efforts are directed
towards strengthening the economy and protecting Australian jobs," he said.

"For these reasons the government does expect the banks to pass this on in full."

Rate cuts since September had reduced monthly repayments by about $600 a month on a
$300,000 mortgage, Mr Swan said.

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KEYWORD: RATES SWAN 2 CANBERRA

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