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The New Daily
The New Daily
Business
Rod Myer

Why savers are unlikely to benefit much from the RBA rate hikes

RBA Philip Lowe Sally Tindall Westpac Steve Mickenbecker Canstar
10 News First – Disclaimer

When Reserve Bank governor Philip Lowe jacked up the cash rate by a larger-than-expected half a percentage point on Tuesday, it delivered an unpleasant shock to home buyers as repayment increases loomed.

Westpac announced on Tuesday evening that it would pass on the full rate hike to its variable-rate customers and CBA, NAB and ANZ followed suit on Wednesday.

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