Another two bite the bullet
ANZ and CBA are the latest of the major banks to hike mortgage rates out-of-cycle. ANZ has announced a 16bps hike on all variable rates, while CBA has announced a 15bps hike across its variable mortgage book. These moves follow a 14bps hike from WBC last week.
In a recent article, “Out-of-cycle rate hikes continue” dated 30 August 2018, we explained why we thought:
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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.
