Bank Australia announced today that it will cut interest rates for all variable rate home loans by 0.25%. The cut will take effect for all borrowers from 24 March 2020.
Managing Director Damien Walsh said the decision comes after careful consideration of the bank’s position in the market and the impact on all of the bank’s customers.
“Our decision ensures that we remain highly price competitive while retaining our strong commitment to achieving growth with purpose as we see record numbers of new customers joining the bank.
“At the same time we wish to thank our existing customers for their ongoing support and the trust they place in us to fairly and responsibly price our full range of products and services for all customers.”