	commonwealth bank cuts australia prime to pct the commonwealth bank of australia said it will lower its prime lending rate to pct from effective april the bank s new rate will be the lowest of australia s current prime rates they now range from pct to after a recent series of reductions since late march following an easier trend in short term money market rates two of the three other major trading banks now have prime rates of pct and one of the commonwealth s move reverses an increase from pct in early february reuter 
