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ANZ hit savers with rate cut higher than what was prescribed by the RBA – NEWS.com.au
ANZ hit savers with rate cut higher than what was prescribed by the RBA
ANZ has hit savers with a rate cut higher than the recent carving issued by the Reserve Bank of Australia at the beginning of November. The major bank has sliced the headline savings rates on two of its popular accounts by 20 basis points, making it the latest institution to bow to the low-interest environment being fuelled by the COVID-19 economic downturn.
ANZ’s standard savings account now has a five month introductory rate of 0.45 per cent before moving to an ongoing rate of 0.05 per cent.
The…
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