Bank of Queensland to keep interest rates the same

Mozo

Thursday 09 February 2012

The Bank of Queensland has promised its customers that it will not be hiking its interest rates.

Many Aussies are fearful that the Reserve Bank of Australia's (RBA) decision not to lower rates this week could leave the door open for lenders to introduce hikes.

However, bosses at the Queensland institution have insisted that its rates will remain steady until the RBA meets again in March, regardless of what other banks may be doing.

In a statement, the bank's managing director Stuart Grimshaw said he was well aware that Aussies are worried about how they might be affected by the RBA's reluctance to bring in another reduction.

"[We] want to take this opportunity to reassure our customers that we won't be increasing our standard variable interest rates at this stage," he commented.

The RBA was expected to sanction a third cut to interest rates in quick succession this week, having reduced rates by 0.25 per cent in both November and December, but it eventually decided against further changes.

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Bank of Queensland to keep interest rates the same
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