Will savers continue to struggle after another RBA rate cut?

After a second consecutive rate cut on Tuesday, much of the focus has been on which lenders are cutting home loan rates and by how much. But with interest rates falling to new record lows with each rate cut, Australians shouldn’t forget about the impact this can have on savings accounts and term deposits.

Who’s passed on the RBA rate cut to term deposits?

With Australia’s central bank cutting interest rates this week, much of the focus has been on home loan rates – but plenty of institutions have been quietly moving term deposit rates too, and not all of them have been cuts either.

Term deposit movements: Three big banks drop rates

ANZ, National Australia Bank, Commonwealth Bank and a number of other banks have dropped interest rates on term deposits over the past week ahead of Tuesday’s widely-anticipated cash rate cut.

Term deposit rates drop by the day in May

A plethora of deposit-taking institutions have dropped term deposit interest rates in May – and the month isn’t even halfway through yet.

RBA holds rates steady at 1.50%

Australia’s central bank has held the cash rate at 1.50% for the 30th meeting in a row.