- December 8, 2011
- Posted by: admin
- Category: Bank Profits, Budget, Enconomy, Finance News, Financial goals, Home loan product, Inflation, Interest rate, Wealth
Two days after the RBA Board made its announcement the first full 25 basis point rate cut has been delivered by one of the big four banks.
ANZ has made the decisive move, handing borrowers the full quarter percent. After a tense stand-off between the biggest banks ANZ has sent a strong message to the marketplace and piled pressure on its competitors to follow suit.
I believe given the economic conditions facing consumers, all majors should look at passing on the full rate cut.