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BRIEF-CBA Says To Reduce Standard Variable Rate For Home Loan Customers By Between 0.13% P.A And 0.25% P.A

Published 01/10/2019, 06:19 pm
Updated 01/10/2019, 06:20 pm
© Reuters.  BRIEF-CBA Says To Reduce Standard Variable Rate For Home Loan Customers By Between 0.13% P.A And 0.25% P.A
CBA
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Oct 1 (Reuters) - Commonwealth Bank of Australia CBA.AX :

* COMMONWEALTH BANK OF AUSTRALIA SAYS WILL REDUCE STANDARD VARIABLE RATE FOR HOME LOAN CUSTOMERS BY BETWEEN 0.13% P.A AND 0.25% P.A

* COMMONWEALTH BANK OF AUSTRALIA SAYS NEW SVR TO TAKE EFFECT ON OCT 22, 2019

* CBA SAYS IT FACES DIFFICULT BALANCING ACT BETWEEN INTERESTS OF STAKEHOLDERS AS RESERVE BANK CASH RATE REACHED RECORD LOWS

* CBA SAYS CURRENTLY NOT FEASIBLE TO PASS ON FULL INTEREST RATE CUT TO MORE THAN $160 BILLION OF ITS DEPOSITS WHICH ARE AT, OR NEAR, ZERO RATES

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