ANZ bank is the first to announce it will raise rates following the RBA's decision to increase the official cash rate by .25%.
The RBA has today raised rates for the first time since March last year, pushing up the cash rate by 25bps to 3.25%
Loan Market Group has slammed the RBA for lifting interest rates today, saying it has put "a healthy housing market in jeopardy".
The CEO of the Commonwealth Bank, Ralph Norris, has indicated that the banks will not make a grab for extra margin as official rates begin to rise, The Daily Telegraph reported today.
The RBA released its September Financial Stability Review today, showing that the GFC was continuing to impact on the local mortgage business.
For the fourth consecutive month the RBA has left the headline cash rate at 3%.