Big Banks Entirely Approve Cash Rate Hike

NAB will announce whether it will pass on the rate hike to customers in full this morning, as the other three of the country’s big four banks have decided to do.

The Commonwealth bank was the first to make a move to pass the RBA’s full quarter of a per cent, due to take effect on May 20.

ANZ followed suit shortly after announcing that it would also transfer the full amount to variable mortgage loan customers from May 13.

Westpac will broadcast the increase to new and existing customers on May 17.

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