It comes as ANZ missed its chance, to undercut its opposition at the eleventh hour by following the pack.
ANZ makes its interest rate decision on the second Friday of every month, meaning its decision often comes more than a week after its competitors make their announcements, following the Reserve Bank's official interest rate call.
Analysts at JPMorgan estimates, that for every day the banks delay a cut to the standard variable interest rate, it makes somewhere in the order of $2million.
Today, ANZ said it would cut its standard variable rate by 20 basis points, the same reduction as its major competitors, to 6.40% on December the 21st.
So based on JPMorgan's guess, from the day the RBA made its decision, to the day ANZ will have officially passed on the cut, it would have pocketed around $32million.
The move will put it on par with the Commonwealth Bank which passed on its 20 basis point cut on Monday but betters Westpac's 6.51% rate.
But at 6.38%, NAB has the lowest SVR of the four big banks, a promise it said it would keep all year.
Interest rates on mortgages are now unlikely to move until February next year because the Reserve Bank board takes a break next month.
