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The New Daily
The New Daily
Matthew Elmas and Sezen Bakan

ACCC asking why banks are slow to lift interest rates on savings accounts

ING RBA ACCC ANZ Commonwealth Bank Interest Rates Reserve Bank Westpac
Banks have begun passing on a new tranche of rate increases to savers after the RBA's latest hike. Photo: TND

Australian savings rates are changing after the Reserve Bank’s February interest rate increase, but banks have been criticised for dragging their feet.

Acting on the directions of the federal government, the Australian Competition and Consumer Commission launched an inquiry on Wednesday into deposit interest rates.

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