| ||Rate cut benefits passed on to growers|| ||
AWB Limited Chief Executive, Mr Andrew Lindberg, today announced a 0.25% reduction in its interest rates on the AWB National Pool Harvest Payment.
This follows the announcement by the Reserve Bank of Australia to cut official interest rates by 0.25%. AWB’s new interest rate reduction follows on from its September rate cut of 0.25%.
The 0.25% rate cut will come into effect on Wednesday 17th October 2001.
Mr Lindberg said the reduced rates would apply across all tiers of AWB National Pool Harvest Payment.
“AWB Limited’s competitive financing applies to all grades of wheat and we are pleased we can immediately pass on the benefit of falling official interest rates to Australian wheat growers,” Mr Lindberg said.
AWB Limited’s Indicator rate is now 7.25%. A loyalty bonus of 0.25% discount applies to all tiers for growers who take AWB Harvest Payment on all their National Pool deliveries.
For more detail please see attachment.
For further information contact:
Peter McBride, AWB Limited on (03) 9209 2174 or 0417 662 451
Interest Rate Cut Table