Term deposit holders win from rate cut

03 August 2016

 

On Tuesday 2 August the RBA cut official cash rate 25bps to 1.50%, the lowest cash rate in Australian history. However there was a predictable outcry from the tabloid press and talkback radio as Australian banks failed to pass on the full rate cut to their mortgage holders. What the big four banks did do though was very interesting. As well as only cutting variable mortgage rates by between 10bps...

read full story