· He cited this when explaining why the bank, along with the other big banks, didn’t pass on the full rate cut when the RBA dropped the official cash rate by 0.25 percentage points to 1.50%.

After the Reserve Bank’s decision to cut rates to a record low 1.75% today, all eyes are on home loan lenders to see which ones will follow suit and pass on rate cuts to customers. <> The RBA has slashed rates even further to 1.50%, at its August board meeting.

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He cited this when explaining why the bank, along with the other big banks, didn’t pass on the full rate cut when the RBA dropped the official cash rate by 0.25 percentage points to 1.50%. Update: Westpac passes on 0.20 per cent p.a cut for owner occupiers and a reduction of 0.30 per cent p.a. for investors with interest only repayments.

SA Reserve Bank cuts interest rates. This means the repo rate is now 6.5% and the prime lending rate 10%. The last time the central bank cut the repo rate was in July 2017, when the MPC reduced the rate by 25 basis points from 7% to 6.75%.

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Josh Frydenberg has told the big four banks to pass on in full any interest rate cut to help to stimulate the economy from what official figures could show is the lowest annual growth rate since 2009.

ANZ Bank interest rate cut. Rate cut: 25 basis points (0.25% points) Applies to: All variable interest rates for Australian home and residential investment loans; Announcement date: 2 July 2019; Effective date: 12 july 2019 (10 days after RBA decision) june rate cut: 18 basis points (0.18% points)

with investors overlooking the fact that the US is expected by the International Monetary Fund to be the fastest growing of.

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All four big banks have said they will cut their home loan interest rates after the Reserve Bank of Australia announced a cut to the official cash rate – the first movement in almost three years. While Commbank and NAB said they’ll pass on the entire 0.25 per cent drop, Westpac will only pass on 0.2 per cent and ANZ will cut it’s rates by 0.18.