Australia's PM: banks must pass on RBA cuts
Banks around the world are facing higher borrowing costs as a result of the global financial turmoil, but Rudd told 3AW, a radio station, that banks had a responsibility to lower rates if the RBA cut.
At 7.25%, the Reserve Bank's official cash rate is now at a 12-year high. But the institution indicated in the minutes of its most recent rate-setting
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