RBA cuts cash rate, but will the banks pass it on?

Will the banks pass on this third rate cut in full?

This little infographic by the ABC makes for pretty interesting reading.

It shows just how much of the last two RBA rate cuts each of the big four banks passed on to its customers in June-July.

Indeed, not one of the big four banks passed on both rate cuts in full, with each bank passing on somewhere between 0.40-0.44% (out of 0.50%).

As such, it will be worth keeping an eye on just how much of this most recent rate cut your lender passes on, not to mention how that stacks up against the competition.

Want to know what this rate cut means for your home loan?

With three RBA cuts so close together, it can get a bit confusing as to just how much of these cuts your lender is passing on to you.

The good news is we’re following the market closely and can tell you which lenders pass this third rate cut on to their customers in full, and which lenders don’t.

So if you’d like to find out, then please get in touch – we’d love to help break it down for you.

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