“Customers sick of earning peanuts on their hard-earned cash would do well to shop around now the competition in the savings market is finally picking up.”
This will put pressure on other banks, in particular, Westpac, NAB and ANZ, to pass on this RBA hike to their savings customers. “CBA, Macquarie and ING have now all made significant increases on some of their most popular accounts. “ING and Macquarie have reset the battlefield for savings rates in what is ultimately a win for savers. The RBA stunned mortgage holders with a double rate rise on Tuesday.
