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Monthly Archives: February 2009

Interest Rates reduced by 1%p.a.

February 3, 2009 in Latest News, Rate Cuts

The Reserve Bank of Australia announced yet another massive interest rate reduction of 1% p.a.

The 6 Major Banks were quick to adhere to the governments request to pass on the full interest rate reduction to borrowers. Although Westpac & ANZ were expected to provide a larger rate reduction than their competitors as they have yet to pass on the full interest rate cut announced in December 2008. Read more