Skip to main content

RBA cut the cash rate by 25 basis points

NAB and Commonwealth bank have both failed to pass on the Reserve Bank's interest rates cut in full, making a reduction of only 0.20 per cent.


NAB's Group Executive for Personal Banking, Lisa Gray, said the bank had tried to offer the lowest rate of the major banks while ensuring the bank was safe and secure.
"The increased competition for deposits is pushing up costs, making it more expensive to fund our lending," Ms Gray said.
Yesterday ING Direct anounced it would pass on the rate cut in full, slicing its variable home loans by 0.25 per cent.
The Bank of Queensland has already reduced its variable home loans by 20 basis points.
NAB's cut will come into effect on October 8, saving $50 per month on an average $300,000 mortgage.
Commonwealth Bank's cut will come into effect on October 12.
ANZ has stated it would not reduce rates before its regular rates meeting on October 12.
All Westpac would say today was that their rates were under review.
The big four banks' standard variable home loan rates currently stand at:
  • NAB 6.58
  • CBA 6.60
  • ANZ 6.80
  • Westpac 6.89.
Labels:
Location: Australia

Comments

Post a Comment

Popular posts from this blog

Box Hill High School Zone

Parents are struggling with moving into a good reputable school for their kid(s). Here is the zone for Box Hill High School.   Good luck with house hunting!
Post a Comment
»»»»»»»»»»»»»»»»»»» Read more »»»»»»»»»»»»»»»»»»»

The Bose Soundbar 700 Won't Connect to App

Bose has one of the best speaker sound. I learnt about Bose more than 25 years ago and still a fan.  I bought Soundbar 700 in 2018.  It took me a while to set it up but it has been giving me troubles once a while.  Recently, I was not able to connect Soundbar 700 with my phone.  Done the factory reset on the soundbar, it didn't work. I spent hours reseting everything multiple times and finally I found this article,  https://www.bose.com.au/en_au/support/articles/HC1380/productCodes/bose_soundbar_700/article.html .  Tweaking them all and finally got it to work again. I think the most important setting is to TURN WPS OFF on the router!  Hope it helps.
Post a Comment
»»»»»»»»»»»»»»»»»»» Read more »»»»»»»»»»»»»»»»»»»

Brivis Heater - Error Code #69

My Brivis HX23 Heater broke down this week.  H01 Code #69.  This code was not even listed in the User Manual!  Searching around the web and here is what I found: Secret Reset: This is not in the User Manual.  On the networker controller press FUNCTION > 1 > 4 keys and the screen will go blank and come back on after 30 seconds, this has rebooted the main PCB and reset the fault code. Use this with caution as too much gas build up could cause an explosion. Use it only after the unit has enough time to air out the gas build up. What is Code #69 or any other unpublished codes?  The best way to find out is to open up the heater unit.   There is a little LCD on the PCB showing what error exactly is. (Note: Opening up the unit may void your warranty.)
6 comments
»»»»»»»»»»»»»»»»»»» Read more »»»»»»»»»»»»»»»»»»»