This months interst rate cut by the Reserve Bank of Australia, brought on by the weakest inflation reading in 17 years, has bought the official cash rate to a new low of 1.50%. Weak economic data across the first half of the year, including weak consumer pricing and inflation numbers, have driven the drastic move. It’s the second cut this year, off the back of a .25 drop in May that saw the rate lowered to 1.75 percent.
Want to know if your lender will be passing on the interest rate cut and by how much? Finder.com.au has rounded up the details of every announcement on the rate cuts from banks in one handy table. Click on this link to see if your lender will be passing on the rate cut.