Two of Australia's big banks have failed to pass on the Reserve Bank's full interest rate cut and Treasurer Josh Frydenberg is not happy about it.
The RBA cut rates to a new record low of 1.25 per cent for the first time in almost three years on Tuesday.
Commonwealth and NAB are passing on the full cut to their customers, but Westpac and ANZ are not.
Speaking to Kochie on Sunrise, the Treasurer voiced his frustrations.
"We're deeply disappointed and so should their customers be," he said.
"There is a legitimate expectation that when the RBA cuts rates, that it's passed on in full."
Frydenberg also responded to claims from the opposition that Australia's economy is floundering.
"No it's not. The fundamentals of the economy are sound... there is a belief that unemployment can come down further ant the interest rate cut is designed to do that."
Watch the full story in the clip above.