$CommBank (CBA.AU)$, the country's biggest lender, implemented significant reductions to almost all of its term deposit interest rates, lowering them by 0.5 percentage points last Friday. Following suit, $National Australia Bank Ltd (NAB.AU)$ and $ANZ Group Holdings Ltd (ANZ.AU)$ made similar moves on Monday, with ANZ implementing even steeper cuts, reducing rates by up to 80 basis points.
Since August, a total of 23 banks have red...