The ##erated Bank of Australia and National Australia Bank ( NAB ) have chosen not to pass on a 25 basis point interest rate cut by the Reserve Bank of Australia , aimed at boosting the nation 's flagging economy , to their customers . Instead , both lowered their standard variable owner - occupier interest rates by 19 basis points , and NAB said it would cut deposit rates by 19 basis points . A month earlier Australia and fed Zealand Banking Group offered an 18 basis point reduction after a 25 point central bank rate cut . ANZ said it would pass on the latest regulation in full .
The Commonwealth Bank of Australia and National Australia Bank (NAB) have chosen not to pass on a 25 basis point interest rate cut by the Reserve Bank of Australia, aimed at boosting the nation's flagging economy, to their customers. Instead, both lowered their standard variable owner-occupier interest rates by 19 basis points, and NAB said it would cut deposit rates by 19 basis points. A month earlier Australia and New Zealand Banking Group offered an 18 basis point reduction after a 25 point central bank rate cut. ANZ said it would pass on the latest cut in full.