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
Today ING Direct announced that they will pass on the full interest rate cut to 0.25% mortgage variable rate. it will be interesting to see how the other banks will move as Bank of Queensland only passed on 0.20%. We will keep you updated and provide a summary data table soon listing most of how 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