The Commonwealth Bank takes the lead in passing on the Reserve Bank's latest interest rate rise on to customers in full.
The Commonwealth Bank has taken the lead in passing on the Reserve Bank's latest rate rise on to customers in full.The big four banks have hiked variable home loan rates in line with the May and June hikesThe CBA said it would bring the standard variable interest rate for owner-occupiers paying principal and interest to 5.8 per cent from July 15.
The equivalent home-loan rate for investors will increase by 50 basis points as well, to 6.38 per cent. The bank also said it would pass on the full rate rise to bonus interest accounts GoalSaver and Youthsaver and would introduce a term-deposit rate of 2.5 per cent for 15 months.Just days before Tuesday's rate decision,Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.The RBA lifted the official cash rateWhen lenders pass on the 0.
The central bank has increased the cash rate for three consecutive months to quell soaring inflation.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank of Australia lifts interest rates by 50 basis points to 1.35 per centThe Reserve Bank of Australia has lifted the official cash rate target by another 50 basis points, taking the baseline interest rate to 1.35 per cent. 9News
Read more »
Interest rates pushed up as Reserve Bank targets high inflationThe Reserve Bank has lifted interest rates amid more signs of the inflationary pressures hitting parts of the economy.
Read more »
Interest rates pushed up as Reserve Bank targets high inflationThe Reserve Bank has lifted interest rates amid more signs of the inflationary pressures hitting parts of the economy.
Read more »
Reserve Bank of Australia lifts interest rates by 50 basis points to 1.35 per centJUST IN: The Reserve Bank of Australia has lifted the official cash rate target by another 50 basis points, taking the baseline interest rate to 1.35 per cent. MORE: 9News
Read more »
Reserve Bank lifts cash rates 0.5pc to 1.35pcBREAKING: The Reserve Bank of Australia increased the official interest rate for a third consecutive month on Tuesday by 0.5 percentage points to 1.35 per cent, as it moves quickly to curb strengthening inflation.
Read more »
Reserve Bank lifts cash rates 0.5pc to 1.35pcThe RBA increased the official interest rate for a third consecutive month on Tuesday with a 0.5 percentage point rise to 1.35 per cent, as it moves quickly to curb strengthening inflation.
Read more »