Banks May Not Pass On Cut

07/02/2012
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Australia's big four banks are being urged to spare struggling families and pass on a predicted interest rate cut today.

The Reserve Bank board is tipped to make its third straight reduction today, lowering the official cash rate to 4 percent.

Treasurer Wayne Swan warns there's no excuse for the banks not to pass on the full cut to consumers.
 

Photo:Getty/Getty Images News/ Mark Dadswell/Staff
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