The Reserve Bank of Australia decided to once again reduce the official cash rate, this time to 1% in a concentrated effort to boost household spending and the economy in general.
In making the decision to lower rates again this month the RBA has signalled its focus on supporting employment growth as it looks to restore inflation to within its target range and provide further stimulus to the economy.
We will keep you updated on how much and the major lenders are going to reduce their interest rates with our trusty interest rate table.
|Current Bank Interest Rates||Rate Cut and Date|
|Adelaide Bank / Bendigo Bank||-0.20% 29th July 2019|
|AMP||-0.20% 22nd July 2019|
|ANZ||-0.25% 12th July 2019|
|Bank of Melbourne||-0.20% 16th July 2019|
|Bank of Queensland||-0.15% 23rd July 2019|
|BankWest||-0.19% 23rd July 2019|
|Citibank||No Announcement Yet|
|Commonwealth Bank||-0.19% 23rd July 2019|
|ING Direct Bank||-0.20% 18th July 2019|
|ME Bank||-0.15% 23rd July 2019|
|Heritage Bank||-0.15% 18th July 2019|
|NAB||-0.19% 12th July 2019|
|St George Bank||-0.20% 16th July 2019|
|Suncorp Bank||-0.19% 19th July 2019|
|Westpac||-0.20% 16th July 2019|
If you have any questions about the announcement or interest rates, please feel free to contact us.
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