Hockey wants other loans cut

The big four banks and many other lenders may have cut their mortgage rates, but Joe Hockey isn't happy just yet.

The treasurer says the banks are "terrific" for lowering their home loan rates following the Reserve Bank's 25 basis-point cut in the official cash rate this week.

But he says cuts also have to flow through to small business loans and credit cards.

Which is why he is ringing around individual banks to make sure they finish the job.

"We are going to keep the pressure on them," Mr Hockey told Macquarie Radio on Thursday, adding interest rate relief was vitally important for small business.

About 20 lending institutions have matched or bettered the RBA's reduction.

The ANZ was the last of the big four banks to cut its standard variable rate on Thursday.