The ANZ has independently raised its rates by 6 basis points (0.06%) “reflecting continued pressures on the cost of deposits and wholesale funding”.
This lifts the banks new standard variable mortgage rate to 7.42% putting them above NAB (at 7.31%) and CBA (7.41%) but still below WBC at 7.46%
This chart accompanies the release (find below), showing the change in cost of funding since the GFC – note how wholesale costs have tapered recently, whilst deposit costs have stabilised, but still high.
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