Australia’s big four banks have all lifted interest rates after the Reserve Bank handed down a third consecutive rate hike yesterday.
The RBA lifted the cash rate from 4.1% to 4.35%, in a widely expected decision on yesterday afternoon.
Macquarie Bank was the first Australian bank to announce it would pass on the 0.25% interest rate rise to its variable home loan customers from 22 May.
The country’s big four banks – Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Westpac and ANZ — followed suit, announcing they would all pass on the 0.25% increase to their customers.
