Literally. I mean it.
"Westpac Banking Corporation has reduced its standard variable home loan rate by 80 basis points to 8.56 per cent, passing on most of the Reserve Bank of Australia's (RBA) cut in the overnight cash rate.
Last month, Westpac passed on all of the RBA's 25 basis point rate cut that was announced on September 2, reducing its variable mortgage rate to 9.36 per cent."
Very well played. I reckon Westpac's Chairman Ted Evans (the former Treasury Secretary) would have had a hand in this as well.
Bright bunch. The others will look like also-rans.