AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
AUSTRALIAN TREASURER DECLINES TO PRESSURE BANKS OVER RATE CUTS.
CANBERRA, Oct 1 Asia Pulse - Australian Federal Treasurer Wayne Swan has refused to pressure banks to pass on the full amount of any cut in the official cash rate.
The Reserve Bank is widely expected to announce a rate cut before the year is out, but because of the global credit crunch it is possible some or all of the big four banks will not pass the full cut on to mortgagees.
Under questioning today, Mr Swan refused to call on the banks to pass on the full amount of any cut.
"We are in a more complicated environment," Mr Swan told ABC Radio.
"Certainly I would encourage them (banks) to act as responsibly and as competitively as they possibly can.
"I can assure you that I will be putting maximum pressure on the banks to ensure they pass on the maximum amount that is economically responsible given events in global markets."
Mr Swan pointed out the ...
- Pressure on banks to cut floating rate
- Newspaper article from: The Press ESPINER Colin July 7, 2009 700+ words
...Government has asked the Reserve Bank to come up with ways to pressure banks into cutting floating mortgage...their margins, and the Reserve Bank, which believed floating...rates should be lower. The Reserve Bank's latest cut in the official...
- The Reserve Bank of New Zealand Amendment Act 2003.
- Magazine article from: The Reserve Bank of New Zealand Bulletin Twaddle, James March 1, 2004 700+ words
In August 2003, the Reserve Bank of New Zealand Amendment Act 2003...legislative framework in which the Reserve Bank operates. This article provides...1 Introduction The Reserve Bank of New Zealand Amendment Act 2003...
- Is New Zealand's Reserve Bank Act of 1989 an optimal central bank contract?
- Magazine article from: Journal of Money, Credit & Banking Walsh, Carl E. November 1, 1995 700+ words
...interest has been generated by the Reserve Bank of New Zealand Act of 1989...designed to give New Zealand's Reserve Bank greater independence from political...accountability on the part of the Reserve Bank for the achievement of its policy...
- The Reserve Bank's payment system oversight role applied to settlement risk in...
- Magazine article from: The Reserve Bank of New Zealand Bulletin Chan, Phoebe Irvine, Stuart December 1, 2008 700+ words
The Reserve Bank oversees the payment system for the purpose...financial system. Consistent with the Reserve Bank's relatively light-handed payment system oversight powers, the Reserve Bank's approach is to be clear about its objectives...
- Evolution of the Reserve Bank's liquidity facilities.(ARTICLES)
- Magazine article from: The Reserve Bank of New Zealand Bulletin Nield, Ian December 1, 2008 700+ words
...in the settlement accounts that the Reserve Bank offers to the commercial banks. The...liquidity operations undertaken by the Reserve Bank--the standing facilities and open...article discusses developments in the Reserve Bank's liquidity facilities over the past...
- For the record: recent press releases. (News Releases).(Reserve Bank of New...
- Magazine article from: The Reserve Bank of New Zealand Bulletin March 1, 2002 700+ words
...bank registered 29 November 2001 The Reserve Bank today announced that it had registered...operate under the name "Kiwibank". Reserve Bank Deputy Governor Rod Carr commented...4.75 per cent 23 January 2002 The Reserve Bank today left the Official Cash Rate unchanged...
- Reserve Bank foreign exchange intervention principles: 30 March 2004.(News...
- Magazine article from: The Reserve Bank of New Zealand Bulletin June 1, 2004 700+ words
The Reserve Bank today released a letter from the Bank to the...The letter is attached. This follows the Reserve Bank recommending, and the Government resolving, that the Reserve Bank should have the financial capacity to undertake...
- The relationship between monetary and financial stability.(Reserve Bank of New...
- Magazine article from: The Reserve Bank of New Zealand Bulletin Hunter, Leni June 1, 2008 700+ words
The Reserve Bank of New Zealand takes distinct actions...business cycle. 1 Introduction The Reserve Bank's recent Financial Stability Reports...line with other central banks, the Reserve Bank of New Zealand has responded with extended...