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Following the Reserve Bank of Australia's recent interest rate decision, CBA was notably quick to pass on the rate cut to its customers — implementing the change within minutes. The bank announced that it would adjust rates effective August 22, roughly ten days after the rate decision.
The bank's loan loss rate has decreased, indicating that fewer borrowers are struggling and more are paying off their mortgages efficiently. This positive trend points to a gradually improving economy, with reduced loan impairment expenses signaling healthier borrower repayment patterns.