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RBA Cut Interest Rates – Commonwealth First to Follow
Posted November 5th, 2008
In at attempt to keep the economy from experiencing the full impact of economic downturn, the Reserve Bank of Australia has recently cut the official cash rate by 100 basis points. During November, they are also expected to cut another 50 basis points, bringing official interests rates to an all time low of 5.5% since May 2006.
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Before any other credit card providers, the Commonwealth Bank have reduced their interest rates across all their credit cards by 0.60%. Commonwealth Bank credit cards are now more competitive than ever. Other banks and financial providers will too likely follow in their footsteps and reduce interest rates in order to compete.
Related posts:
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- Cash Advance Interest Rates: Things you need to know
- Reserve Bank Interest Rates: Understanding Monetary Policy
- Cut Credit Card Interest and Fees: ATM Fees, Promotions and Low Rates
- Credit Card Interest Rates
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