Prime Minister Scott Morrison has accused the banks of profiteering by not passing on the full quarter percentage point cut in the official cash rate.
The Reserve Bank of Australia eased monetary policy for the third time in four months on Tuesday, dropping the key rate to 0.75 per cent, but none of the big four banks has passed on the full reduction.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
