Graph 10  The average interest rate actually paid on outstanding variable-rate housing loans in the Reserve Bank's Securitisation Dataset decreased by 23 basis points in June, the same as the average announced reduction in SVRs. Similar reductions in outstanding rates are expected to be recorded for July data.
This reminds me of an old adage in Hindu mythology, which is somewhat similar to impossible trinity: that the idols of Brahma (the creator), Vishnu (the preserver), and Shiva (the destroyer) cannot be kept under the same roof! Among three, who should be kept out? There is no rule or convention.