major banks mull over interest rate cut
Last Updated : GMT 01:23:17
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.

arabstoday
arabstoday

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*

major banks mull over interest rate cut major banks mull over interest rate cut

 



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*

major banks mull over interest rate cut major banks mull over interest rate cut

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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