Banks were quick to pass on rate hikes – just not for savers
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Source: 9News
Published: 2026-05-11 17:55 UTC+10:00
Section: National
Factuality Score: 100
Opinion Category: Neutral
Topics: Australia, Economy & Finance
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Snippet:
When the Reserve Bank of Australia (RBA) raised the cash rate target last Tuesday, the major banks were swift to announce their plans to pass on the hike to borrowers.But the same cannot be said for most customers who hold savings accounts with the banks, with many still waiting to hear if they can expect a higher return on their deposits.The official cash rate target is now at the same level of 4.35 per cent it was sitting at last
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