ANZ first to give full interest cuts

ANZ has become the first of the big banks to reduce lending rates since the Reserve Bank decided to reduce interest rates.

In a move that surprised stakeholders, ANZ passed on the full 25 basis-points cut to customers earlier today.

ANZ’s new standard variable mortgage rate will be 6.8% and becomes effective next Friday.

The move puts pressure on the other three major banks: Westpac, Commonwealth and NAB to act in accordance.

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Close
SmartCompany Plus

Sign in

To connect a sign in method the email must match the one on your SmartCompany Plus account.
Or use your email
Show
Forgot your password?

Want some assistance?

Contact us on: support@smartcompany.com.au or call the hotline: +61 (03) 8623 9900.