NAB cuts rates

NAB has announced a rate cut late this afternoon.

Just hours after ANZ announced it would pass on the full 25 basis point rate cut to their borrowers, NAB has followed suit. NAB was widely criticised last month when it was the only major not to pass on the RBA’s full rate cut

NAB’s decision now puts increasing pressure on CBA and Westpac – both of which are yet to move



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