Arab Today, arab today major banks mull over interest rate cut
Last Updated : GMT 13:42:01
Arab Today, arab today
Arab Today, arab today

Major banks mull over interest rate cut

Arab Today, arab today

Arab Today, arab today Major banks mull over interest rate cut

Canberra - Arabstoday

Australians will have to wait a bit longer to find out if their mortgage repayments will drop as the major banks decide whether they will pass on the Reserve Bank of Australia\'s (RBA) 25 basis point cut to the cash rate. The RBA on Tuesday lowered the official cash rate by 25 basis points to 3.50 per cent - the lowest level since November 2009 in the aftermath of the global financial crisis. Treasurer Wayne Swan says home borrowers will be \"very angry\" if the big commercial banks don\'t pass on the latest central rate bank cut in full. \"The banks are very profitable, net interest margins are around the levels that they were prior to the global financial crisis,\" Mr Swan told reporters in Canberra. \"I think that their customers will not treat them kindly if they do not pass this through in full. \"I think their customers will be very angry.\" However, none of the four major banks have said whether they will pass on the RBA\'s interest rate cut, either in full or part, to their customers. The Commonwealth Bank and Westpac both said their interest rates were under review, while ANZ will make its monthly decision on interest rates on Friday. A National Australia Bank spokeswoman said the bank was still making a decision but it stood by its earlier commitment to have the lowest standard variable rate. Bank of Queensland said it would be lowering its interest rates in light of the RBA\'s decision, but would not pass on the full cut. BOQ has cut its standard variable rates on its home and business loans by only 20 basis points. Chief executive Stuart Grimshaw said the decision to cut its rates was influenced by global economic uncertainty. \"Volatility in overseas markets continues to push up the cost of funds and demand for deposits in Australia,\" he said in a statement on Tuesday. \"Competition for deposits is at an all-time high, but the RBA is trying to encourage consumers to spend, so we\'re pleased to assist by passing on a 20 basis point cut today.\"from world news.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today major banks mull over interest rate cut Arab Today, arab today major banks mull over interest rate cut

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday