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NAB To Act First In Interest Rate Cut Standoff

Wed, Feb 1, 9:38am by Kevin Pitstock

While an RBA interest rate cut looks a safe bet next week, the real question is which of the big four banks will be the first to pass on the rate cut, with online bookmaker installing the NAB as the $2.65 favourite.

Westpac and the Commonwealth Bank are next in the market at $3.00 each to be the first to pass on any rate cut, while ANZ customers look set to be in for another long wait, with their bank considered an $8.00 outsider to act first.

A decrease in the interest rate between 0.01 and 0.25 looks to be a good bet at $1.22, while home owners can breathe easy knowing that any increase in the interest rate looks to be out of the question, with offering odds of $101 for any increase during next week’s RBA announcement.

“While an interest rate cut looks to be a sure thing, we expect the real interest to be around which bank will be the first to take the plunge and act first given the standoff that took place during the last cut,” said’s Shaun Anderson.

“No doubt home owners will be hoping for a quick resolution this time around, and NAB customers look to be the first to receive the good news next week. ANZ customers on the other hand will be in for an uncertain couple of days after the announcement according to our market where they are $8.00 outsiders to act first.”

Despite an interest rate cut looking likely, home owners had better not pop the champagne just yet. In a market on how many of the big four banks will pass on a rate cut in full, zero is the favourite at $2.00. All four of the big four banks to pass on any full rate cut is considered an outside chance at $7.00.

“After the banks resisted to pass on the full rate cut last time around, we expect the same to happen next week, much to the disappointment of home owners.”

Markets courtesy of

Which of the Big 4 Banks will pass on the February RBA interest rate cut first?
$2.65 NAB
$3.00 Westpac
$3.00 Commonwealth
$8.00 ANZ

Next RBA interest rate announcement
$1.22 Decrease between 0.01 and 0.25 percent
$4.00 Stays the same
$9.00 Decrease between 0.26 and 0.5 percent
$21 Decrease between 0.51 percent or more
$101 Any increase

How many of the Big 4 Banks will pass on any interest rate cut in full?
$2.00 0
$4.50 1
$6.00 2
$6.00 3
$7.00 4

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