Banks must pass on rate cut in full: Bandt

The big banks are making record profits and must pass on in full today’s Reserve Bank interest rate cut, Greens Deputy Leader and banking spokesperson Adam Bandt said.

“The banks are making a motza at the moment and they can afford to pass this rate cut on in full”, Mr Bandt said today.

“Labor can’t sit on its hands. Something needs to be done to rein in the big banks. The banks have been riding roughshod over their customers and the taxpayers who are underwriting their profits."