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.
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RAMS Home Loans today announced the launch of a new home loan to assist borrowers struggling in the current tough economic climate. RAMS Rate Relief offers a 1% p.a. discount off the RAMS Standard Variable Rate for two years plus no annual account keeping fee.
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