RBA Increases Rates by 0.25%, CBA by 0.45%

In a surprise move to economists the RBS increased interest rates by 0.25%. An hour later in not a surprising move the Commonwealth Bank increased their home loan variable rate by 0.45% angering their customers and politicians.

It will be interesting to see if the other banks will follow and if history is a good indicator it is most likely.

I will post a full report on other lenders interest rate increases over the next few days

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