The effects of global financial crisis have greatly alarmed the economy of Australia. It has indeed hurt the business confidence of most of the companies as a survey showed a decline on its sales.
The Reserve Bank of Australia (RBA) is tipped to announce an official cut of 50 basis points, or half a percentage point, on Tuesday.
"Our position is clear: the banks should pass on as much as they can of any increase at any time," Assistant Treasurer Chris Bowen told Channel 10.
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