Three Major Australian Banks Lifted Interest Rates Following Central Bank’s Decision

This combination of photos taken show the signs of the "big four" Australian banks in Sydney, Australia, on Nov. 30, 2017. Peter Parks/AFP via Getty Images

Three of Australia’s Big Four banks have adjusted their variable home loan rates upward one day after the central bank raised the cash rate for the third time in 2022.

On July 6, the Commonwealth Bank of Australia (CBA) was the first bank to pass the rise on in full by lifting the rates of its variable home loan products. ANZ and National Australia Bank quickly followed the move.