Many banks were quick to advertise & announce how good they were to pass on the full 0.25% p.a. RBA rate cut in June 2019.
Not surprisingly many of these same banks were making far less noise when they held back from passing on the full 0.25% p.a. rate cut announced by the RBA in July 2019. (i.e. total 0.50% rate cut over 2 months).
Below is a list of the Banks & their combined interest rate reductions for the months of June and July 2019.
|
Bank: |
Rate Reduction June: |
Rate Reduction July: |
Total: |
| Macquarie | 0.25% p.a. | 0.20% p.a. | 0.45% p.a. |
| ING | 0.25% p.a. | 0.20% p.a. | 0.45% p.a. |
| Auswide Bank | 0.25% p.a. | 0.25% p.a. | 0.50%p.a. |
| ME Bank | 0.25% p.a. | 0.15% p.a. | 0.40% p.a. |
| AMP Bank | 0.25% p.a. | TBA | |
| CBA | 0.25% p.a. | 0.19% p.a. | 0.44% p.a. |
| BankWest | 0.25% p.a. | 0.19% p.a. | 0.44% p.a. |
| NAB | 0.25% p.a. | 0.19% p.a. | 0.44% p.a. |
| Bank Australia | 0.25% p.a. | 0.16% p.a. | 0.41% p.a. |
| Bank of Qld | 0.25% p.a. | 0.15% p.a. | 0.40% p.a. |
| AFG | 0.25% p.a. | Pending | |
| Citibank | 0.25% p.a. | Pending | |
| IMB Bank | 0.25% p.a. | Pending | |
| RACQ | 0.25% p.a. | 0.25% p.a. | 0.50% p.a. |
| Pepper | 0.25% p.a. | Pending | |
| Westpac | 0.20% p.a. | 0.20% p.a. | 0.40% p.a. |
| St George | 0.20% p.a. | 0.20% p.a. | 0.40% p.a. |
| RAMS | 0.20% p.a. | 0.20% p.a. | 0.40% p.a. |
| Bendigo Bank | 0.20% p.a. | Pending | |
| Suncorp | 0.20% p.a. | 0.19% p.a. | 0.39% p.a. |
| Heritage | 0.20% p.a. | TBA | |
| ANZ | 0.18% p.a. | 0.25% p.a. | 0.43% p.a. |
| CUA | 0.15% p.a. | 0.17% p.a. | 0.22% p.a. |
