AUSTRALIA'S COMMONWEALTH BANK TO CUT VARIABLE LOAN RATE BY 0.25

SYDNEY, Sep 02, 2008 (AsiaPulse via COMTEX) -- CBAUF | Quote | Chart | News | PowerRating -- Commonwealth Bank of Australia (ASX:CBA) will cut its variable home loan rates by 25 basis points, after the central bank said it would lower official rates.

Its complete home loan variable rate will fall to 9.33 per cent, from 9.58 per cent.

Its economiser base variable rate will fall to 8.82 per cent, from 9.07 per cent.

The new rates will be effective from September for new and existing customers, the bank said in a statement.

(AAP)

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