Fed: Swan expects all banks to pass on possible rates cut

AAP General News (Australia)
08-21-2008
Fed: Swan expects all banks to pass on possible rates cut

BRISBANE, Aug 21 AAP - Treasurer Wayne Swan says he expects all banks to pass on any
interest rate cut made by the Reserve Bank.

National Australia Bank today promised to pass on in full a potential 25 basis point
cut by the Reserve Bank of Australia (RBA) next month.

Australia's largest home lender, Commonwealth Bank of Australia, today lowered its
fixed rate mortgages for the second time this month but said it could not guarantee matching
a likely rate cut next month by the central bank.

Mr Swan told reporters in Brisbane he was pleased with NAB's decision and hoped other
banks would follow suit.

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KEYWORD: RATES SWAN LEAD

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