The Nationals Senator for New South Wales John Williams has commended the Commonwealth Bank for acting quickly on reducing interest rates for small business.

Senator Williams last week called on financial institutions to pass on the Reserve Bank’s latest cut of 25 basis points, and today he has been advised the Commonwealth Bank will do that

He said it is good news for their small business customers at the end of a week in which the carbon tax cost burden has been imposed on them from July 1^st next year.

“Previously I have been critical of banks for not passing on rate cuts to small business and farming enterprises so I am happy to acknowledge CBA’s quick response.

I hope others follow their lead” Senator Williams said.