The Reserve Bank of Australia delivers another cash rate cut to borrowers

ANZ says it will pass on today’s interest rate cut in full after the Reserve Bank dropped the cash rate to a new low of 1 per cent.

The bank said it would reduce all variable interest home loan rates in Australia by 0.25 per cent from Friday, July 12.

Commonwealth Bank, NAB and Westpac stopped short of passing on the full interest rate cut, citing the need to balance the interests of borrowers and savers.

Source link Business News Australia

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