(RBA) cuts interest rate by .25%
Posted
@ Jun 1st 2012 6:05pm
- By GCPN Property Network
The Reserve Bank of Australia (RBA) announced the cut of cash rates by 25 basis points down to a low 3.5%. Home owners nationwide breathed a sigh of relief as banks began to follow suit by decreasing their home loan interest rates.
Although many banks have not decreased cash rates by 25 basis points, many have lowered their rates by as much as 20 basis points, impacting home owners greatly.
The slash in interest rates by the RBA has put pressure on the big four banks to follow suit by decreasing interest rates for home owners.
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