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Big banks expected to cut rates by 0.20 per cent

03/02/2012

The big banks are signalling they will not pass on all of the Reserve Bank's expected interest rate cut next week.

ANZ is due to hold its monthly review of lending rates next Friday, after the RBA's decision on Tuesday. There is speculation that Westpac, the Commonwealth Bank and NAB could delay announcing their interest rate decisions until ANZ makes its move.

Most analysts believe the four banks could pass on 20 basis points of the expected 25-basis-point RBA cut to offset the higher funding costs.

Source: The Australian



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