Mark Wilkshire: Co-Operative Bank CEO on banks dropping their rates after the OCR cut

It’s a battle of the banks after last week's Official Cash Rate cut.  Most banks dropped their advertised retail loan rates within minutes of last Wednesday's Reserve Bank announcement.  ANZ and Co-Operative Bank have now dropped their rates even further.  Co-Operative Chief Executive Mark Wilkshire told Mike Hosking things are getting competitive.  He says it's good news for homeowners out there, with rates coming down quite quickly.  LISTEN ABOVE See omnystudio.com/listener for privacy information.