Cent Interest: Interest Rates and Cent

cent interest: NAB's basic savings account now offer just 0.11 per cent interest, and ANZ's just 0.15 per cent, after they today reduced interest rates by between 0.15 per cent and 0.25 per cent, according to Nine News Australia. Australian savers are now staring down the barrel at zero interest rates, Canstar finance expert Steve Mickenbecker said. To improve your experience update it here News National Big banks cut savings rates after interest rate drop By AAP12 28pm Jul 12, 2019Facebook Tweet MailNAB and ANZ have both cut their savings rates again in the wake of the Reserve Bank of Australia's decision to reduce the interest rate to one per cent. There's now an expectation that the other two banks will follow ANZ and NAB's lead with similar cuts. All the banks do offer higher promotional rates of around two per cent, but those expire after a few months. The Reserve Bank of Australia cut the cash interest rate this month to one per cent. 9news The question is not if they will cut, but when and by how much, agreed Rate City.au research director Sally TIndall. (news.financializer.com). As reported in the news.