Phil Lowe gets RBA gong, Mr Rainbow the bone.. Of course banks won’t pass on full rate cut.. and as opposed to Bernanke Lowe has no excuses like "I didn’t know, it never happened in our.
The RBA has cut the official cash rate 0.25 points to a fresh record low of 1% with a third rate cut expected before Christmas (AAP Video) Terry McCrann Low interest rates a warning of dire straits
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In response, two of Australia’s big four banks – the Commonwealth Bank and the National Australia Bank – have announced they will pass on the rate cut of 0.25% in full for all variable home loans. It slightly trimmed its inflation outlook for the back half of the year however, to 3.4 percent to 3.7 percent from its earlier projection of 3.5.
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Why the banks aren’t likely to pass on the next RBA rate cut in full The RBA could cut the cash rate again as early as tomorrow however it’s unlikely the big four banks will pass it on in full. Alex Ritchie
The Reserve Bank has cut the official interest rate by another 0.25 percentage points to a new low of 1%, reflecting continuing concern over the slow economy.. Reserve Bank Governor Philip Lowe said the latest cut, which came a month after the RBA made a similar cut of 0.25 percentage points, would help "make further inroads" into the economy’s spare capacity, assist in reducing.
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In his address to the reserve bank board dinner following the central bank’s decision to lower the cash rate by 25bps to 1.25 per cent, governor Philip Lowe urged credit providers to pass on the savings in full to mortgage customers.. Mr Lowe stated that in the past, the central bank has understood the circumstances dissuading lenders from moving in tandem with the REBA but said that current.