National Australia Bank holds off on rate cut

MELBOURNE, Oct 7 (Reuters) - National Australia Bank (NAB.AX) said on Tuesday it would wait till markets calmed down before deciding on any cut in its standard variable rate in response to the Reserve Bank of Australia's surprise 1 percent cut in the official cash rate.

"When the market is calmer, we'll be in a better position to see how much we can pass on to our customers," National Australia Bank spokeswoman Luisa Ford said.

Commonwealth Bank of Australia (CBA.AX) and Australia and New Zealand Banking Group (ANZ.AX) said they were reviewing their rates. (Reporting by Sonali Paul and Mette Fraende)