| ||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 its October rate cut of 0.25%.
The 0.25% rate cut will come into effect on Wednesday 19th December 2001.
“A key advantage of AWB’s National Pool Harvest Payment is its availability for every pool pay grade and all qualities, and we are pleased to be able to pass on this rate cut to make the package even more competitive,” Mr Lindberg said.
“This rate cut will benefit growers who took our Harvest Payment option for last season, as well as those who have, or are planning to use it for this harvest.”
AWB Limited’s Indicator rate is now 7.00%. However, a loyalty bonus of 0.25% discount applies to all tiers for growers who take AWB Harvest Payment on all their National Pool deliveries.
AWB reduces interest rates - table