Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Banks look at independent rate moves

Staff Reporter 1 minute read

Making headlines today, The Australian has reported that Australia’s major banks could be forced to hike their rates independently of the RBA.

Higher funding costs are taking its toll on the big four, with Westpac forced to raise $800 million in five year funding at 35 basis points more than a similar deal seven months prior.

According to the paper, the banks have tentatively agreed to restrict rate rises to the RBA's official moves in the short term, but are expected to move after the election, which could be called as early as this week.

Banks look at independent rate moves
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
handshake news Ex-broker head to lead MyState banking

A former broker head has returned to MyState Bank to tackle turna...

BBS 2021 ta SA/NT’s top brokers crowned

The leading brokers in South Australia and the Northern Territory...

Paul Kearney ta AFCA recruits from ME Bank

The complaints authority has named a new executive general manage...