Not just because it will seem to be abiding by Treasurer Wayne Swan's wishes, but because it can really stuff up the marketing plans of one of its rivals.
NAB, has for quite some time, promised to have the lowest standard variable rate of the big four banks until the end of this year and has kept its promise.
Despite only passing on a 20 basis point cut, instead of the Reserve Bank's 25 basis point reduction, its standard variable interest rate will be 2 basis points below that of the Commonwealth Bank from next Monday at 6.38 per cent.
Westpac is also decreasing its standard variable rate by 20 basis points to 6.51 per cent, but not until December the 17th.
ANZ in the meantime, will be sitting on its hands until Friday next week.
Its policy is to announce its interest rate decision on the second Friday of the month, allowing it to continue to earn from higher interest rates.
That alone doesn't help in the publicity stakes, when appealing to borrowers. It's a different story for shareholders though who will benefit from the extra cash injection.
At the moment, its SVR stands at 6.60 per cent. A full 25 basis point cut, will take it to 6.35 per cent, below that of NAB.
It would be interesting to see what NAB would have to say about that, if it is pipped at the post and if it would spark any further competition.
Unfortunately, the way banks source their funds have changed over the past few years and the Reserve Bank's official cash rate only impacts part of their funding costs.
Banks are sourcing much of their funds from overseas wholesale markets, which they continue to say, are seeing rising associated costs.
ANZ, like the other banks, has to decide, whether the publicity associated with lower rates is worth more, than the cash it will receive by holding back some of the official cash rate reduction, despite the ongoing squeeze on margins.
