Why do banks change interest rates when the cash rate is steady?

Banks, credit unions, building societies and non-bank lenders often take their lead from the Reserve Bank of Australia when making decisions about interest rates. So when the Reserve Bank raises or lowers the official cash rate, they do the same with their home loan interest rates. However, lenders have no legal obligation to mirror the [...]

By |2018-01-25T02:59:32+00:00January 25th, 2018|Interest Rates|0 Comments
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