Rate rise

Posted Tuesday, 02 November 2010 at 19:29 by Michael Chan
Tagged: interest rates
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CBA rise rate above RBA

The move by the RBA to increase the official cash rate by 0.25% was expected, as per my previous two articles. 

However CBA decision to jump the gun and rise the variable rate by 0.45% is very disappointing, especially 50 days before Christmas. 

Now it's a waiting game, as we wait to hear from ANZ, Westpac and NAB. As a note, credit union still remains very competitive in this market- check our rates now !