Commonwealth Bank says to cut mortgage rate by 0.58%
The new rate will be effective from Nov 10. -Reuters
Tue, Nov 04, 2008
Reuters
SYDNEY - Commonwealth Bank of Australia, the nation's No. 2 lender, said it would reduce its standard variable home loan interest rate by 0.58 percent, following the central bank's 0.75 percent rate cut.
The new rate will be effective from Nov. 10, the bank said in a statement.