Which Big Banks Passed on the Interest Rate Cut?

At its meeting today, The Reserve Bank of Australia decided to lower the cash rate by 25 basis points to 1.75 per cent effective 4 May 2016. This follows information showing inflationary pressures are lower than expected.

So far, the big banks who have passed on the interest rate cuts are as follows:

Bank	Rate cut
NAB	Full
CBA	Full
Westpac	Full
ANZ	Partial

Both buyers and sellers of Sydney are likely to cheer this news. Buyers may be likely to access further funds and lock in rates, whereas sellers might experience a reinvigorated property market.

Remember to always seek financial advice before making decisions.

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Sources: http://www.skynews.com.au/business/business/national/2016/05/03/big-banks-pass-on-rate-cut.html;

http://www.media.anz.com/phoenix.zhtml?c=248677&p=irol-news&nyo=0;

http://www.rba.gov.au/media-releases/2016/mr-16-10.html