Earlier today the Reserve Bank of Australia announced a cut to the official cash rate of 0.25%, bringing it to a new low of 0.50%.
We are carefully assessing the RBA’s decision to ensure that the impacts on borrowers and depositors are thoroughly considered and represent a responsible approach to banking.
As a customer owned bank, we will always do our best to offer competitive rates to all customers whether they’re borrowers or depositors.
We understand that our customers will want to know what our decision is as soon as possible. We will make a further announcement when we have an answer for you.