Macquarie Bank was the first to move on interest rates after the Reserve Bank hiked official rates again on Tuesday, handing on the full half of a percentage point rise to its standard variable home loan customers and continuing its run of generosity toward savers.
While the big four banks had not made any announcements by 6pm on Tuesday, Macquarie continued to increase rates by the full amount for savers too in transaction accounts with balances up to $250,000.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
Georgie Moore is a breaking news reporter with The Australian Financial Review based in Parliament House, Canberra. Connect with Georgie on Twitter. Email Georgie at georgie.moore@afr.com
