Property and the budget ease pressure on the RBA as two banks cut fixed rates | ANZ, Macquarie Ba…

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Property and the budget ease pressure on the RBA as two banks cut fixed rates

Property markets are grinding to a halt in some parts of the country. (AAP: Glenn Hunt)

The older you get, the more frenetic the pace of life seems to become.

No matter where you look, social, political and economic change appears to be in overdrive, and the long periods of stability we once enjoyed are becoming increasingly short-lived.

Last year, Australia looked to be on the verge of a slowdown, which was only to be expected after one of the fastest rate hike cycles in history, prompting the RBA to shave a couple of rate hikes off the top.

But after it had cut for the third time inflation again reared its ugly head and the RBA was forced into a sudden about-turn in 2026.

ANZ, Macquarie Bank cut interest rates in stunning trend reversal today: 'Shifted gears'

Two of Australia's biggest banks have given Aussies a glimmer of hope that the rate-hiking cycle could be at its peak. ANZ and Macquarie Bank have today made sweeping cuts to their fixed home loan interest rates, in a clear move against the rate-hiking trend.

ANZ has cut its 2 and 3-year fixed home loan rates by up to 0.10 percentage points, moving in the opposite direction as the other Big Four banks. The cuts bring ANZ's lowest fixed rate to 6.29 per cent for two years.

Macquarie Bank, the country's fifth biggest bank, has also taken the clippers to its fixed rates, cutting them by up to 0.45 percentage points. Its lowest rate is now 6.09 per cent for three years.

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