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Australian banks lift rates after RBA cash rate hike
Original: Banks raise interest rates after RBA lifts cash rate to highest since 2011 By Ahmed Yussuf Australia's big four banks an
Australia's big four banks have announced interest rate rises after the Reserve Bank of Australia lifted the cash rate to its highest level since 2011. Borrowers face higher mortgage repayments as the rate hike is passed on, though savers may see better returns. The move marks the RBA's steepest setting in more than a decade amid ongoing efforts to curb inflation.
Why now: The RBA's cash rate reaching its highest point since 2011 directly affects mortgages and household finances, prompting wide attention.
Reserve Bank of AustraliaCommonwealth BankWestpacNABANZ
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- Banks raise interest rates after RBA lifts cash rate to highest since 2011 By Ahmed Yussuf Australia's big four banks announce interest rate rises after the Reserve Bank of Australia lifted the cash rate to its highest level in more than a decade. https://www.… · abcfeeds@rssfeed.media · 1
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