	commonwealth bank cuts australian split prime the commonwealth bank of australia said it will lower its reference rate for loans to pct from pct and its overdraft reference rate to pct from effective june bank officials have said the bank regards the overdraft reference rate based on short term rate trends as its key prime lending rate to corporate customers the loan reference rate is based on longer term trends the bank is the latest to cut prime rates in recent days following a continuing decline in market rates other prime rates now range from pct to pct reuter 
