CBA has passed on only 0.1% of the .25% RBA cut. It has almost certianly set the precedence that other banks will now not need to pass on the full rate cut. It will be interesting to see what ANZ, NAB and Westpac / St George decide to do.

CBA claims that although the drop is small, they are offering very good cash deposit interest rates at the moment which has seen an influx of cash depsoits to their bank, thus menaing their funding of interest payements has become more expensive.

So much for Banks working inline with the government to help the average Australian…. this days after banks stated they would work with those that lost their jobs to help defer payement on home loans to assist those while they seek for new employment. 800,000 people in Australia are predicted to loose their jobs.