RBA Drops Rates 0.25% – Our Lowest Level Ever

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

The Reserve bank of Australia today announced our lowest rates on record with a 0.25% rate reduction. The cash rate now sits at 1.50%pa.

CBA has been the first to move announcing a partial reduction on the standard variable rate (SVR) of 0.13%pa. Which was expected as the bank has been saying they are under pricing pressure from the changes to the funding requirements. Their fixed rates will likely change over the coming weeks as the bank adjusts to the new pricing environment.

For more information on how the RBA came to this decision please follow the link to their page. http://www.rba.gov.au/media-releases/2016/mr-16-18.html

We will be posting the other banks announcements as they are released. Though normally if one bank doesn’t drop the full amount then the other banks will follow suit. So stay tuned and we will see what this all looks like soon enough.

P.S. If you are looking to refinance it might be worth waiting 2-3 weeks till the dust settles.

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Housing affordability

Why choosing where you live will change your financial outcome. I have always said that money vs lifestyle is a decision. To live in Sydney

Budget 2021

Tomorrow Budget 2021 gets announced and it likely to have implications for borrowers of all sorts. This morning I have seen an article announcing an

Get The Right Advice & Cheaper Than The Banks.
Talk to Mortgage Advice