Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

ANZ to pass full RBA cut on, maybe

Staff Reporter 1 minute read

ANZ chief Mike Smith today confirmed the bank would pass on the full benefit of a rate cut next month, provided funding costs remained at current levels.

“It’s unusual to be asked what we are going to do ahead of a rate cut,” Mr Smith conceded, “but on what we know today, this is a pretty simple equation.”

“If funding costs continue at the current levels and the Reserve Bank do actually cut rates, then there will be a full flow on to our mortgage customers,” he said.

The Commonwealth Bank said yesterday it hoped to pass on the full benefit but would need to review funding costs when the time came.

Published: 22-08-08 

Advertisement
Advertisement
Related Articles
CBA cuts fixed lending rates 21-08-08

NAB will pass on rate cut 21-08-08



ANZ to pass full RBA cut on, maybe
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
RBA 2 TA RBA maintains status quo amid calls to consider cuts

The central bank has held the cash rate at its effective lower bo...

CBA 2 CBA announces interest-only lifeline

The bank has become the second major lender to offer customers t...

digital Brokers cite refinancing as key profit driver

The vast majority of brokers believe that refinancing clients is ...

FROM THE WEB