Update 12th October 2012: ANZ announces a 0.20% drop in their variable rate 0.05% short of the full rate decrease Rates announces by AMP, Bank West, Bank of Melbourne and Bendigo Bank. Adelaide bank will not pass on the rate cut until the 26th October making their customers pay the higher interest rate for 24 Read More
Within hours after the RBA cut interest rates by 0.25% the Bank of Queensland ( BOQ ) reduce their variable interest rate by 0.20%. This could be an omen as this might be the trigger for the major banks not to pass on the full rate cut to its mortgage holders. Research from the Herald Read More
In a move requested by many of those in the retail sector the RBA have reduced the variable cash rate to 3.25% from 3.5%. This is welcome relief for business’ and mortgage holders as the Australian economy appears to be slowing. Interest rate cuts announced by the RBA are not always passed on by the Read More
UPDATE: ING reduce interest rates by 0.20% and ANZ just announced rates reduced by 0.25%, NAB by 0.21% and Commonwealth Bank 0.21%. Check below for latest updates The Reserve Bank of Australia announced a 0.25% official interest rate cut, down to 3.50%. We will have to wait and see how the major banks; Commonwealth Bank, Read More
Update 14th May: ANZ reduce rates by 0.37% and AMP by 0.35%. We will also include their increase or 0.06% mid last month resulting in a net decrease of 0.31% Update 4th May: Bank West reduce rates by 0.32%. and Westpac by 0.37%. More below Update 3rd May: ING reduce rates by 0.30%. See other Read More
Bank of Queensland (BOQ) gave us the first indication that the Banks will not pass on the full interest rate cut after the Reserve Bank of Australia cut interest rates by 0.5%. BOQ announced yesterday that they will only be passing on 0.35% of the 0.50% stating the usually higher costs of funding. ANZ will make their Read More