Australian Treasurer Wayne Swan is again calling on the country`s banks to pass any future lower interest rates on to their customers.
In a broadcast interview on Monday, Swan reiterated his position that should the Reserve Bank of Australia drop its benchmark interest rate, there is `no excuse` for banks not to pass the reduction on to their customers.
Swan`s comments followed statements by Reserve Bank assistant governor Philip Lowe last week that there was `no reason` for banks not to pass on changes in the cash rate.
Most economists expect the RBA to trim interest rates from their current 12-year high of 7.25 percent at the next policy meeting September 2.
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