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ABC News
ABC News
Business

Which banks have passed on the May RBA rate rise to mortgage borrowers? NAB kicks it off, as ANZ follows

RBA ANZ NAB Westpac Interest Rates
The big Australian banks have raised their home loan rates by 0.25 per cent. (AAP)

Following the Reserve Bank of Australia's (RBA) decision to bump up the cash rate target for the 11th time in 12 months, all four major banks have responded to the May increase.

As of May 2, the RBA has increased its cash target by 0.25 of a percentage point, bumping it up to 3.85 per cent. 

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