Westpac announced on Tuesday evening that it will increase its variable home loan rates by 0.25 per cent, in line with the RBA's decisions. The increase will come into effect on June 20.
"We understand interest rate increases put more pressure on household budgets," Westpac chief executive consumer and business banking Chris de Bruin said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank warns of 'further tightening' as interest rate rises to 4.10 per centThe Reserve Bank of Australia has announced its interest rate decision for June, as Australians continue to grapple with inflation and the rising cost of living.
Source: SBSNews - 🏆 3. / 89 Read more »
First of the big four banks moves after RBA hikes interest rates againMillions of Australian borrowers are already feeling the pinch amid a rising cost of living crisis.
Source: 7NewsAustralia - 🏆 11. / 71 Read more »
RBA should ‘wait’ for economic data before raising rates againThe Switzer Report Founder Peter Switzer says the smartest thing RBA Governor Philip Lowe should do is “wait” for the economic data to come out before raising interest rates again. “I just think there’s good reason for him to hold fire,” Mr Switzer told Sky News Australia. “If he doesn’t, I think he will compound the problem...which will be really emphasised when the cliff happens.”
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Hold fire': Financial expert urges RBA to wait before moving ratesThe Fair Work Commission's decision to boost wages has many economists now expecting the RBA to raise rates again on Tuesday, but one financial commentator is urging decision makers to hold off until the effects of the change filter through the economy.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
RBA expected to keep interest rates on holdOnly 10 out of 30 economists expect the cash rate to rise this week with money markets projecting a 37 per cent chance of a rate increase. RBA Governor Philip Lowe is facing the two major challenges of rising inflation and wages in his decision.
Source: SkyNewsAust - 🏆 7. / 78 Read more »