May 5 (Reuters) - Top lender Commonwealth Bank of
Australia (CBA) on Friday joined its other "Big Four"
peers in passing on the central bank's latest quarter-percentage
point interest-rate hike in full to its home loan customers.
During the week, other major lenders had also increased
their interest rates after the Reserve Bank of Australia (RBA)
announced a surprise hike in the cash rate to 3.85%, when
traders had looked for an extended pause.
With cash rate now sitting at its highest since early 2012,
the RBA warned that inflation was way too high and that even
further tightening may be needed to bring it to heel.
CBA, National Australia Bank , and ANZ Group
Holdings will hike their rates from May 12, while
Westpac Banking Corp's increase will be effective from
May 16, the banks said in separate statements.
(Reporting by Himanshi Akhand in Bengaluru; editing by Uttaresh
Venkateshwaran)
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