Rate Cuts Announced by Banks
By Jeremy Harper – Director, Mortgages
The Reserve Bank of Australia (RBA) has opted to reduce the cash rate to 4.10% and the interest rate on exchange settlement balances to 4.0%. This move reflects the RBA’s view that inflation is moderating in the economy.
For homeowners and families with mortgages, this won’t result in any immediate changes to interest rates. However, here is a list of lenders that have announced a rate cut, with many passing on the full 25 basis point reduction, effective from the specified date.
Contact Atlas Mortgages to learn more.
| Lender | Passed on Rate Cut | Effective |
| :ubank | Full Cut | 27 February |
| Adelaide | Pending | |
| AMP | Full Cut | 3 March |
| ANZ | Full Cut | 28 February |
| Auswide Bank | Full Cut | 28 February |
| Bank Australia | Full Cut | 4 March |
| BOM/Bank SA/St George | Full Cut | 4 March |
| Bank Vic | Full Cut | 4 March |
| Bank of Sydney | Full Cut | 12 March |
| Bank of Queensland | Full Cut | 7 March |
| Bankwest | Full Cut | 28 February |
| Bendigo | Full Cut | 7 March |
| Beyond Bank | Full Cut | 4 March |
| Bluebay | Pending | |
| Bluestone | Full Cut | 28 February |
| CBA | Full Cut | 28 February |
| Great Southern Bank | Full Cut | 4 March |
| Firstmac | Full Cut | 4 March |
| Heritage | Full Cut | 4 March |
| ING | Full Cut | 4 March |
| La Trobe | Pending | |
| Liberty | Pending | |
| Macquarie | Full Cut | 28 February |
| ME Bank | Full Cut | 8 March |
| MA Money | Full Cut | 17 March |
| My State | Full Cut | 4 March |
| NAB | Full Cut | 28 February |
| Pepper | Full Cut | 5 March |
| Qudos | Full Cut | 27 February |
| Resimac | Full Cut | 4 March |
| Suncorp | Full Cut | 28 February |
| Teachers Mutual Bank | Full Cut | 28 February |
| Virgin Money | Pending | |
| Westpac Bank | Full Cut | 4 March |
| WLTH | Full Cut | 17 March |
| ORDE | Full Cut | 17 March |