The Age --- Page: B1 : 5 March 2008 Original article by Leon Gettler
LexisNexis Summary
There is speculation that Australia's banks may, once again, move to raise their interest rates by more than the official rate rise. In February 2008, the National Australia Bank lifted its variable rate to 8.98 per cent, which was four basis points higher than the 25 point lift in rates imposed by the Reserve Bank of Australia for that month. Meanwhile, the Commonwealth Bank of Australia raised its rate by 30 basis points. On 4 March, Australian Treasurer, Wayne Swan, warned the nation's banks that consumers may react if mortgage rates are again lifted by more than 25 basis points.
