Greens say rate cut has come far too late, call on big banks to pass on more
Greens say rate cut has come far too late, call on big banks to pass on more | Australian Greens Skip to main content Search Get Involved Join Donate Our plan Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action Policy principles & aims Our team Federal MPs State/territory MPs Officeholders Media releases Take action Volunteer Donate Issues & campaigns Events Greens Shop Leave a bequest Our movement About the Greens Become a member Jobs Green Magazine All news Get Involved Join Donate Search Our plan Toggle Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action Policy principles & aims Our team Toggle Federal MPs State/territory MPs Officeholders Media releases Take action Toggle Volunteer Donate Issues & campaigns Events Greens Shop Leave a bequest Our movement Toggle About the Greens Become a member Jobs Green Magazine All news Greens say rate cut has come far too late, call on big banks to pass on more 2025-02-18 The Australian Greens say the Reserve Bank’s decision to cut interest rates will do little to provide relief for households being smashed by the cost-of-living crisis, and have called on the big banks to pass on more than a 25 basis point cut.
Quotes attributable to Australian Greens Treasury spokesperson, Senator Nick McKim: “The Reserve Bank has cut rates by 25 basis points today, the big banks should now cut their rates by 50. “Bank corporations are happy to increase their mortgage rates by more than the RBA puts them up when it suits them. They should do the same now rates are falling.
“People need relief, and the obscene profits of the big banks give them plenty of room to move. “Last year the big four banking corporations reported a combined profit after tax of $29.9 billion. They can afford to do some of the heavy lifting to provide people with interest rate relief.
“People need cost-of-living relief now. We should be taxing the big corporations and billionaires to fund the things people need, like getting dental and mental health into Medicare, and seeing the GP for free. “We should be tackling the soaring cost of rents and groceries by capping rent increases and ending supermarket price-gouging.
“This election, we can’t keep voting for the same two parties and expecting a different result. “There will be a minority government and the Greens are within reach of winning seats right across the country. Last time there was a minority, the Greens got dental into Medicare for kids.
“With a minority government, the Greens will keep Dutton out and get Labor to act.” Facebook for the Australian Greens YouTube for the Australian Greens X for the Australian Greens Instagram for the Australian Greens Bluesky for the Australian Greens Privacy Members website Your safety Contact us Our plan Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action In your language 2025 policy platform Policy principles & aims Our team Federal MPs State/territory MPs Officeholders Federal portfolios Federal media releases Take action Volunteer Donate Issues & campaigns Upcoming events Greens Shop Leave a bequest Green Magazine All news Our movement About the Greens Become a member Jobs Members website State/territory parties Contact us The Greens acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture.
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