March 19, 2020 / 4:47 AM / 15 days ago

Australia's CBA cuts rates for small business and household borrowers

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

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