There's more pain for borrowers. Two big banks are increasing rates ahead of the RBAInfo meeting next Tuesday. CommBank is increasing some of its fixed loans. NAB is upping select variable rates. 7NEWS
If you’d like to view this content, please adjust your.
If you’d like to view this content, please adjust yourAustralia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBA, NAB lift some mortgage rates outside RBA’s cycleThe two banks moved standard variable interest rates higher for some new customers ahead of official rises, as analysts question mortgage profitability.
Read more »
Two major banks lift mortgage rates ahead of RBA's announcementTwo of Australia's largest banks have raised fixed home loan interest rates as Sky News Australia Political Editor Andrew Clennell speaks to one of several homeowners in Kogarah feeling the financial pain.
Read more »
Banks promise to meet RBA’s delayed PayTo deadlineAfter failing to be ready to switch on new payment functionality last year, NAB, ANZ and Westpac say they will be ready in April.
Read more »
This level of ‘unprompted’ recognition is a first for an RBA governor: WelshA Reserve Bank governor has never got “this kind of recognition,” says Redbridge Group Australia Director Simon Welsh after he has begun hearing Phillip Lowe’s name mentioned in focus groups since the very public coverage on inflation. “The name Phillip Lowe is coming up unprompted from participants – this is the first time I’ve ever seen that kind of recognition,” Mr Welsh told Sky News Australia. “It is not complimentary … the one thing we don’t feel is driving inflation is my household spending. “I feel like I’m just trying to survive – I’m not adding to the problem.”
Read more »
Interest rate hikes haven’t ‘bitten’ as hard as the RBA expectedThe retail figures released on Tuesday show the interest rate hikes “haven’t bitten” as hard as the Reserve Bank expected, George Washington University economics expert Steven Hamilton. He noted that the Reserve Bank started lifting interest rates “too late” and only started with a very small rate increase. “They are probably looking at these and just having a rethink about just how high that terminal interest rate gets to, which is the key number,” Mr Hamilton told Sky News Australia.
Read more »
RBA giving the nation ‘brain damage’: Mark Bouris unleashes on Philip LoweYellow Brick Road Home Loans Executive Chairman Mark Bouris says the Reserve Bank of Australia is giving the nation 'brain damage' over their handling of inflation. “One minute there saying interest rates are not going up until 2024, go borrow money at fixed rates at 0.2 per cent and you’ll be sweet,” Mr Bouris told Sky News Australia. 'The next minute there telling us we have to control inflation, we’ve got to control wages, we are just going to keep putting rates up. Mr Bouris he does not believe Governor Philip Lowe and the RBA really 'know what they're doing'. 'They're crossing their fingers hoping they're going to get it right”.
Read more »