Interest Rates Drop to 1.00%

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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 RatesRate 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
CitibankNo 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.

To view and compare current home loan and investment loans click the link below.

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