Betting Says No Chance Of Big Four Banks Passing On Full Interest Rate Cut

The RBA’s 50 basis points cut to the official interest rate will be all for nothing according to punters, with online bookmaker sportsbet.com.au offering odds of $1.03 that none of the big four banks will pass the rate cut on in full.

Even for one of the banks to pass on the full cut is seen as a long shot at $6.00, with two banks to pass on the full cut even longer at $11.

For three of the banks to reduce their rates in full has been priced at $21, with all four banks to do it seen as virtually no chance at $41.

“We have seen over the past months that the big banks aren’t afraid to defy the RBA. Given that this cut has been bigger than usual, we don’t see any way that any of the big banks will pass on the rate cut in full,” said sportsbet.com.au’s Shaun Anderson.

While passing on the full cut seems out of the question, the big four banks are expected to move their variable interest rates, with NAB tipped to be the first to move at $2.50.

Westpac ($3.00), ANZ ($3.50) and the Commonwealth Bank ($4.50) have been given some chance, while for none of the big four banks to make any change has been priced at $13.

“The NAB seem to be the ones looking to come across as the good guys, so we expect them to be the first to act.” Said Anderson.

These promo betting odds are direct from Sportsbet.com.au. Bet with Sportsbet Australia, enjoy these odds and receive a $500 Sportsbet Free Bet. Just use the Sportsbet Promo Code 27110 when joining Sportsbet.

How many of the big 4 banks will pass on the RBA’s May interest rate cut in full?

$1.03 None
$6.00 Any one bank
$11 Any two banks
$21 Any three banks
$41 All big four banks

Who will be the first big four bank to move their variable interest rate after the RBA May announcement?

$2.50 NAB
$3.00 Westpac
$3.50 ANZ
$4.50 Commonwealth
$13 No change