May 5 (Reuters) - Top lender Commonwealth Bank of Australia (CBA) (CBA) on Friday joined its other "Big Four" peers in passing on the central bank's latest quarter-percentage point interest-rate hike in full to its home loan customers.
During the week, other major lenders had also increased their interest rates after the Reserve Bank of Australia (RBA) announced a surprise hike in the cash rate to 3.85%, when traders had looked for an extended pause.
With cash rate now sitting at its highest since early 2012, the RBA warned that inflation was way too high and that even further tightening may be needed to bring it to heel.
CBA, National Australia Bank (NAB) , and ANZ Group Holdings (ANZ) will hike their rates from May 12, while Westpac Banking Corp's (WBC) increase will be effective from May 16, the banks said in separate statements.
May 5 (Reuters) - Top lender Commonwealth Bank of Australia...
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$29.13 |
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| Open | High | Low | Value | Volume |
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