About Us > Media Centre > Media Releases/ASX Announcements > Media releases 2001 > Media releases October 2001 > National lowers variable rates - 3 October
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National lowers variable rates - 3 October 2001
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National Australia Bank has lowered its home loan and personal variable interest rates following today's decision by the Reserve Bank to reduce the official cash rate by 25 basis points. Home loan lending rates will fall by the full 0.25% from Monday 15 October 2001. The move sees the National's standard variable home loan rate fall from 6.56% to 6.31% and the base variable home loan rate move from 6.06% to 5.81%. Mike Pratt, Chief Executive Officer of the National Australia Bank, welcomed the lower rates, which would help boost confidence in the economy.
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