SYDNEY, Nov 4 (Reuters) - Commonwealth Bank of Australia , the nation's No. 2 lender, said it would reduce its standard variable home loan interest rate by 0.58 percent, following the central bank's 0.75 percent rate cut.
The new rate will be effective from Nov. 10, the bank said in a statement. For more see:.

(Reporting by James Thornhill) Keywords: AUSTRALIA ECONOMY/COMMBANK (wayne.cole@reuters.com; Reuters Messaging: wayne.cole.reuters.com@reuters.net; +61 2 9373 1813)

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