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All of Australia's big four banks have raised their variable interest rates

Friday, Oct 23 2015
ANZ has joined its rivals in hiking standard variable interest rates, lifting rates for home owners by 0.18 percentage points to 5.56%. Earlier on Friday NAB announced a 0.17 percentage point raise to 5.6% to take effect from November 12. The move comes on the heels of the Commonwealth Bank's announcement on Thursday to push up its rate 0.15 percent to 5.6 per cent, and Westpac's 0.2 per cent lift to 5.68 percent last week.
 
The lifts put pressure on the last remaining major lender ANZ, to take similar action. A majority of the big four have raised their rates now since Westpac triggered this latest spate of hikes on October 14. NAB followed the other banks in blaming the increase on tougher market conditions and regulations. All of the banks have undertaken billion dollar capital raisings in the past few months to build capital to absorb possible losses and to secure their business.
 
Aussie is currently being trade around 0.72 handle. Pair is likely to find support around 0.7160 level and resistance above 0.7280 area. There will be no major data releases later today.
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