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CBA joins the rate rise party
Released 13 February 2012

The Commonwealth Bank has announced it will raise its interest rate by 0.10 per cent following the Reserve Bank of Australia’s decision to leave the official cash rate unchanged last week.      

CBA’s standard Variable Home Loan interest rate will rise to 7.41 per cent from Monday, 20 February 2012.
On Friday, ANZ and Westpac lifted their rates by 0.06 per cent and 0.10 per cent respectively.

The final of the big four, National Australia Bank is yet to announce its decision.

Meanwhile, Bendigo and Adelaide Bank said it will also lift its standard variable rate by 15 basis points to 7.45 per cent from 21 February.