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Australian banks lift rates as RBA cash rate hits decade high
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 following the Reserve Bank of Australia's decision to lift the cash rate to its highest level since 2011. The increase, reported by Ahmed Yussuf, means higher borrowing costs for homeowners and businesses, with mortgage repayments set to climb as lenders pass the rise on to customers.
Why now: The RBA's cash rate hike to its highest level in more than a decade directly affects mortgage costs for Australian households.
Reserve Bank of AustraliaCommonwealth BankWestpacANZNAB
Evidence
- 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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