Tuesday, September 6, 2022

Which Bank Will Move First Following the RBA Interest Rate Hike?

When the RBA announces a rate hike, the attention immediately turns to the banks to see who will move first to increase their rates. For home owners, they want to see how much more they will need to pay each month in repayments while savers look to see how much more the bank is going to pay them. 

To help with this, there is one useful resource that allows you to compare the banks movements by checking this Google document which is updated by an army of volunteers to show you what rates each bank is offering. 

Currently, only UBANK has increased their savings rate from 1st October to 3.35%

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