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- 06/12/2011 - Interest rate announcement
The Reserve Bank of Australia announced a change to the cash rate of 25 basis points on 6 December 2011.
Keystart's policy is to calculate interest rates based on the average of the four major banks' standard variable interest rate (NAB, CBA, Westpac and ANZ).
As at 8 December 2011, the four major banks reduced their interest rates by 0.25%; therefore, Keystart adjusted its rate by that amount and became effective from 22 December 2011 (14 days from the date of the banks' announcement).
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