May 3 (Reuters) - National Australia Bank Ltd on Wednesday said that it will raise its standard variable home
loan rates by 25 basis points (bps), in line with the Reserve
Bank of Australia's rate hike.
On Tuesday, Australia's central bank raised its cash rate to
3.85% in a surprise move, saying inflation was way too high and
warned that even further tightening may be needed to bring it to
heel.
The new home loan rate will be effective from May 12, the
bank said in a statement.
(Reporting by Nausheen Thusoo in Bengaluru; Editing by Varun H
K)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.