Will the lowest rates ever mean great dollar savings?
It's been a little over 24-hours since the RBA announced a cut in rates, to a new historical low of 1.25%. Since the official announcement, we've had the Federal Treasurer and the Governor of the RBA 'encouraging' the banks to pass on the full rate cut to borrowers. Of the majors, two of them have passed on part of the cut (Westpac and ANZ), CBA and NAB have announced that they will pass on the full cut. So what does this all mean? Following the rate announcements, the standa