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Westpac joins 'big four' peers to raise home loan rates by 50 bps

Monday, September 12, 2022
Westpac joins 'big four' peers to raise home loan rates by 50 bps © Reuters. FILE PHOTO: An office building with Westpac logo is seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. Picture taken June 3, 2020. REUTERS/Loren Elliott/File Phot

(Reuters) - Westpac Banking (NYSE:WBK) Corp said on Monday it would raise its variable home loan interest rates by 50 basis points, joining Australia's other three "big four" lenders in passing on the central bank's rate hike in full to customers for a fifth straight month.

Commonwealth Bank of Australia (OTC:CMWAY), National Australia Bank (OTC:NABZY) and Australia and New Zealand Banking Group had increased their mortgage rates on Friday.

New rates for customers of CBA, NAB and ANZ will be effective from Sept. 16, while Westpac's rates will apply from Sept. 20.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Neutral

Moving Avg:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

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0.9808

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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