More Banks Raise Rates after Tuesdays' Reserve Bank Rise

by Rachel Seymour 8/03/2008

 Following Tuesday's official decision by the Reserve Bank of Australia, Westpac and NAB have both increased their home loan rate by more than the official rate rise.  NAB led the charged by lifting its official rates by 0.3%, followed by Westpac by 0.29%

WESTPAC has lifted its interest rates by 0.3 per cent to 9.27 per cent, following NAB's lead and ANZ Bank's warning of another rate rise.

The bank also warned it would make further adjustments to interest rates if conditions in global credit markets don't improve.

 BankSA, St George and ANZ have all threatened to increase their home loan interest rates further.   Interests rates are now at there highest level for over 10 years.


Join the discussion on National Australia Bank (NAB)

source: Adelaidenow
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