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- RBA Cash Rate Cut - Is your lender passing it on?
RBA Cash Rate Cut - Is your lender passing it on?
The RBA cuts the cash rate on Melbourne Cup.
The Reserve Bank of Australia has cut the cash rate by 15 basis points to a record low of 0.10 per cent.
Sally Tindall, RateCity Research Director, said: “This announcement puts immense pressure on the banks to pass it on to their existing variable home loan customers.”
“Call your bank, find out what they intend to do. If they don’t pass on a full cut, shop around in what remains an extremely competitive market,” she said.
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Disclaimer
This article is over two years old, last updated on November 3, 2020. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
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