We discuss how major banks have a poor track record of passing on rate cuts to borrowers, with only 4 out of 10 rate cuts being fully passed on over the past decade. As a potential rate cut looms, there are questions about whether banks will finally give borrowers a break. Our analysis shows banks typically take 10-14 days to react to rate changes, and even when rates hit record lows during the pandemic, none of the big four passed on the full cut. It’s a game of numbers, and it seems the banks are winning.

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