Following the Reserve Bank of Australia’s largest interest rate rise in 22 years, a number of institutions have passed it on in full to customers. See if your bank is one of them.
CBA on Wednesday joined fellow big four banks Westpac, NAB and ANZ in passing on the historic rise of 0.50 per cent, which took the official number to 0.85 per cent.
"But domestic factors are playing a role too, with capacity constraints in some sectors and the tight labour market contributing to the upward pressure on prices.In a statement Commonwealth Bank said it would increase home loan variable interest rates by 0.50 per cent from June 17. The CBA followed Westpac's announcement it was passing on the 0.50 per cent for home loan and deposit customers from June 21.
ANZ will increase its variable interest rates for home loans by the 0.50 per cent figure, effective from June 17.
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