Westpac confirms rate cut after RBA decision: Here’s when it kicks inWestpac has confirmed it will reduce variable home loan rates by 25 basis points, in line with the Reserve Bank of Australia's (RBA) latest cash rate cut. That means Westpac borrowers will be waiting a few days longer than those at CommBank – which has confirmed it will pass the cut on from 22 August. A 25 basis point reduction is expected to see Westpac's lowest advertised variable rate fall from 5.59% p.a. Westpac joins CommBank and Macquarie in confirming that it will pass on the full August rate cut to variable rate mortgage holders. See how other lenders are responding to the RBA's August rate cut: Your Mortgage live coverageAdvertisementImportant Information and Comparison Rate WarningImportant Information and Comparison Rate Warning