Only two lenders made changes to their standard variable mortgage rates yesterday, following the Reserve Bank of Australia's announcement that it had cut the cash rate by 25 basis points, to 3.25 per cent. That left plenty of room for speculation about how much of the cash rate change lenders would pass on.
The Bank of Queensland said it would cut its standard variable rate by 20 basis points, to 6.71 per cent, effective from October 19.
Bankmecu said it would cut by 25 basis points, effective October 15.
The Reserve Bank's commentary on banks' funding conditions in the...
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