Westpac, Commonwealth Bank and National Australia Bank have all now reduced standard variable rate following the Reserve Bank decision to cut the cash rate by 25 basis points on Tuesday 5th Dec

New standard variable rates (effective 5 Dec 2012)

• Westpac 6.51%, (effective from Dec 17)
• CBA  6.4%  (effective from Dec 10)
• NAB 6.38% (effective from Dec 10)

ANZ is scheduled to announce their decision Dec 14.