RBA Rate Cuts
The RBA has announced another rate cut in May 2025, bringing the cash rate down to 3.85% which is the lowest it has been since May 2023.
You might be wondering what banks are passing on the rate cuts and when, so we’ll keep updating the list below as the news rolls in.
When is my bank passing on the rate cut?
- Macquarie Bank – 23 May
- UBank – 29 May
- CBA – 30 May
- ANZ 30 May
- NAB – 30 May
- Bankwest – 30 May
- Newcastle Permanent – 30 May
- Suncorp – 30 May
- Heritage – 30 May
- AMP – 2 June
- ING – 3 June
- Westpac – 3 June
- St George – 3 June
- Australian Military Bank – 3 June
- MyState – 5 June
- Pepper – 5 June
- BOQ – 6 June
- ME Bank – 7 June
- Resimac – 11 June
How will the rate cut impact me?
Variable rates will be reduced by 0.25% which will reduce your repayment by approximately $16 per month for every $100,000 of lending. For a loan of $500,000, your repayment will reduce by approximately $80.
A rate decrease of 0.25% will also increase your borrowing capacity by around $10,000 – $20,000. This varies depending on your unique situation.
Will house prices increase?
It is very likely that house prices will continue to increase as a result of added pressure on the market. More buyers will be able to borrow more money, which is a good indicator that house prices will increase.