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The Co-Operative Bank says it is the only bank to have passed on the full official cash rate cut to floating mortgages - but other banks say that isn't the full story.
Since the Reserve Bank began reductions to the OCR 15 months ago, it has dropped from 5.5 percent to 2.5 percent.
Another cut is expected this month.
In response, the Co-operative Bank said it had reduced its floating home loan rate by 3.1 percentage points - or just slightly more than the drop in the OCR.
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It said other banks had dropped their floating rates by between 2.55 and 2.7.
Reserve Bank data shows that advertised special fixed home loan rates have dropped over that same perio
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