Majors cut 20bps

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Macrobusiness reports that NAB and CBA have both trimmed only 20bps from floating mortgages following the RBA’s 25bps cut to their target for the overnight cash rate.

I expect a further 5bps to 10bps to be held back following the RBA’s likely 25bps Nov cut.

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One comment

  1. obviously Bank execs do not agree the future for credit growth is as low as RBA officials believe.

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