Commonwealth Bank hits savers with further rate cuts – NEWS.com.au

Commonwealth Bank has dealt another blow to savers by slashing savings rates on deposit accounts by more than the Reserve Banks recent interest carving. The country’s largest bank on Friday morning clipped savings rates by five basis points on its standard and conditional deposit accounts – the second time CBA has cut rates since the central bank announced further monetary easing measures on November 3 that included lowering the official cash rate to 0.1 per cent.CBA since November 3 has lowered…

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