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All Major Banks Pass on Rate Hike Pain

Major Australian banks raised variable home loan rates by 0.25 percentage points after the Reserve Bank increased the cash rate to 3.85%, impacting monthly repayments.

Summary by News
All major banks have swiftly moved to pass on the Reserve Bank’s 25 basis point rate rise to customers in a devastating blow to mortgage holders.

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ABC Australia broke the news in Australia on Tuesday, February 3, 2026.
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