RBA has decided to lower the cash rate by 25 basis points to 1.75 per cent, effective today 4 May 2016. The four big banks have all quickly responded to RBA’s rate cut decision and dropped their interest rates. Commonwealth Bank will reduce their Standard Variable Rate (SVR) by 25 basis points to 5.35% per annum for Owner Occupied Home Loans, and to 5.62% per annum for Standard Variable ...