Australia's CBA cuts rates for small business and household borrowers
- Country:
- Australia
Commonwealth Bank of Australia cut interest rates for small business and household customers on Thursday after the country's central bank cut rates for a second time this month and ventured into quantitative easing to tackle the impact of the coronavirus outbreak. CBA cut rates on existing cash-linked small business loans by 100 basis points, and one-, two- and three-year fixed home loan rates by 70 basis points for owner-occupiers.
On the other hand, it increased interest paid on 12-month term deposits to 1.70%.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Commonwealth Bank of Australia
- Bengaluru
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