Banks to lift rates outside of RBA

Banks to raise mortgage rates beyond RBA rates

By Jessica Stanic on Monday, 12 October 2009

The big four banks have indicated they will increase mortgage rates beyond the Reserve Bank rises in the coming months, The Sunday Telegraph reports.According to the reports, the big four claim they will be forced to lift interest rates beyond the official RBA cash rate increases because they are facing higher costs of raising money in the wholesale markets.

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