These first few rate hikes will be a big benefit for sure. The RBA rate was 0.10, but that wouldn't be the rate SW was getting from ANZ.
I don't know what they were getting prior to Tuesday but as an example lets say it was ~0.75% and at ~1.50% they pass the remainder on to clients... In that scenario you would get the benefit of three 0.25% RBA hikes in total.
RBA Rates, page-10
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