June 7 (Reuters) - Westpac Banking Corp (WBC) on Tuesday became the first Australian lender to lift home loan rates in response to the central bank's bigger-than-expected hike, passing on the full 50 basis point raise to customers from June 21.
The Reserve Bank of Australia (RBA) earlier in the day boosted the cash rate to 0.85% in its biggest hike in 22 years and flagged more tightening to tame surging inflation.
This is the RBA's second rate hike in as many months. Westpac, the country's third-largest bank, also announced https://www.westpac.com.au/about-westpac/media/media-releases/2022/june-7 a term deposit rate of 2.25% per annum for a year for savings accounts starting June 9.
Other deposit interest rates were also under review, it said.
News: WBC Australia's Westpac first to raise home loan rate after RBA hike
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Last
$33.66 |
Change
-0.330(0.97%) |
Mkt cap ! $115.1B | |||
| Open | High | Low | Value | Volume |
| $33.68 | $33.91 | $33.53 | $98.77M | 2.930M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $33.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.70 | 3740 | 3 |
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| WBC (ASX) Chart |