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Making headlines today, The Australian Financial Review has reported that the pressure is on the big four to use the expected rate rise next week to recover higher funding costs.
According to the paper, the banks may move out of cycle with the RBA when it lifts the official cash rate to 4.75 per cent in October.
UBS analyst Chris Williams said the market is bracing for banks to raise rates by an additional 15 to 20 basis points.
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Earlier this year, NAB estimated that funding costs had risen by almost 0.3 per cent since December – the last time banks moved out of cycle with the RBA.
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