Watch FIFA World Cup 2026™

LIVE, FREE and EXCLUSIVE

Westpac defends out-of-cycle rate rise amid concern others may follow

Westpac at  Brisbane CBD

The increase means Westpac’s standard variable rate, now at 5.38 per cent, is the highest of the big four banks. (Westpac, Commonwealth, NAB, ANZ) Source: AAP

Westpac has defended its decision to raise interest rates, out of cycle with the Reserve Bank of Australia. The move has sparked fears the rest of the big four banks could do the same. And some Westpac customers are reconsidering their options.


Published

Updated

By Matt Connellan

Presented by Svetlana Elgina

Source: SBS



Share this with family and friends


Westpac has defended its decision to raise interest rates, out of cycle with the Reserve Bank of Australia. The move has sparked fears the rest of the big four banks could do the same. And some Westpac customers are reconsidering their options.


Listen to SBS Russian podcasts here

Follow SBS Russian on Facebook


Latest podcast episodes

Follow SBS Russian

Download our apps

Listen to our podcasts

Get the latest with our exclusive in-language podcasts on your favourite podcast apps.

Watch on SBS

Russian News

Stream now