From The Australian:
National Australia Bank has quietly raised interest rates across short-term loans popular with business and farming customers on the eve of the first Reserve Bank rates meeting this year, blaming regulatory requirements and the need to shore up its balance sheet.
The out-of-cycle increase of as much as 29 basis points — higher than the typical official rates move — follows similar changes to residential lending rates last year when the banks took advantage of a hot property market to shore up returns in the face of rising capital demands.
