Tuesday, May 1, 2012

ANZ Delays Interest Rate Announcements

ANZ will not announce any changes to their home loan rates until 11 May and any changes will not come into effect until 18 May, whilst other banks have not made any announcements following the RBA's slashing of the cash rate by 50 basis points today.

The Bank of Queensland has taken the first step by a bank to cut interest rates in response to the RBA's announcement. They have cut their standard variable rate by 35 basis points to 7.11%.

Commonwealth Bank, NAB and Westpac will not make an interest rate decision today.

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