CBA delivers double rate hike

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From the AFR:

CBA, the nation’s biggest mortgage lender, is raising rates for the second time in two weeks and reintroducing some fees.

The bank is set to announce an increase of 47 basis points, or a rise to 4.73 per cent, on its three-year “special rate” investment loans. The rate on its owner-occupied “special rate” loan is rising by 30 basis points.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.