Via the excellent Damien Boey at Credit Suisse:
Out of cycle rate hikes continue
WBC was the latest of the banks to hike variable rates across new and existing customers, following similar moves from BOQ, BEN, MQG and SUN over the past few months. Not only are out of cycle rate hikes broadening out across the system – we think that they will continue to broaden out across the majors, and become a recurring theme.
