Hmmm…
CBA has cut home loan rates by 70 basis points to an all time low of 2.29 per cent for 1, 2 and 3 year fixed home loan customers.
Alongside that, the bank said it was launching a new term deposit rate of 1.7pc, an increase of 60bps.
That looks like cover for zero pass through on variable rates which, frankly, is the right thing to do. They need the spread and it won’t do much for households without jobs.
