"Major lenders have had discussions at the boardroom level about self-initiated rate cuts. Westpac is even considering slashing its rate by up to six basis points as early as February"
Six whole basis points!!
WHOOOOOOOOOOOOOOOOOPEEEEEEEEEEEEEEEEEEEEEE!
Meaningless, stupid, and worthless. The costs of notfiying the mortgage holders and other admin will probably be more.
How much more did the banks jack up rates when the RBA increased them?
How much did the banks hold back when the RBA decreased rates?
If they really want to pass on rates cuts then drop rates by 1% or more.
