Australia's CBA cuts rates for small business and household borrowers
In this article:
March 19 (Reuters) - Commonwealth Bank of Australia cut interest rates for small business and household customers on Thursday after the country's central bank cut rates for a second time this month and ventured into quantitative easing to tackle the impact of the coronavirus outbreak.
CBA cut rates on existing cash-linked small business loans by 100 basis points, and one-, two- and three-year fixed home loan rates by 70 basis points for owner occupiers.
On the other hand, it increased interest paid on 12-month term deposits to 1.70%.
(Reporting By Rushil Dutta in Bengaluru; Editing by Tom Hogue)
