Brokers: Rate speculation "fuelled by media"
Brokers reacted to yesterday's bank interest rate rises and stronger than expected employment figures with cautious optimism. There was anger, however, at the role the mainstream media had played in stirring up public concern.
ANZ first to raise rates
ANZ bank is the first to announce it will raise rates following the RBA's decision to increase the official cash rate by .25%.
RBA decision: Rates up by 25bps
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: RBA moved too soon
Loan Market Group has slammed the RBA for lifting interest rates today, saying it has put "a healthy housing market in jeopardy".
Banks will stick to RBA rate rises: Norris
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.
Bank non-performing loan ratios rising: RBA
The RBA released its September Financial Stability Review today, showing that the GFC was continuing to impact on the local mortgage business.