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Archive for August 2016

Big Banks Fail To Pass Full Rate Cut

Calculations

On August 2, the RBA announced that it would cut the official cash rate by 0.25% to a record low 1.5 per cent

Home loan customers of Commonwealth Bank, Westpac, National Australia Bank and ANZ Bank will receive only part of last Tuesday’s cut in official interest rates, with the lenders blaming higher costs and tougher regulation.

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