Business
CBA cuts rates on fixed rate mortgages, business loans – The Australian Financial Review
CBA says its offering the lowest ever fixed mortgage rate in its history but SVRs are being held steady, as the RBA’s action pushes borrowers to locking in low…
Yesterdays move by the RBA will lower the structure of interest rates and provide confidence that Australians can borrow over the long term at historically low rates,” said CBA’s group executive for retail banking, Angus Sullivan.
The standard variable rates are being held steady as banks face a squeeze on their ‘net interest margins’, the difference between what they pay depositors and charge borrowers, as they can’t reduce the rates paid on deposits much further from near zero levels. Morgan Stanley…
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