News out a little earlier
CBA have followed Westpac and raised standard variable rate by 15bps
Owner-occupied homes loan rate moves up to 5.6% and 5.87% for investors, effective 20 Nov
The current consensus, following the Westpac move of +0.2% on 13 Oct, is that the RBA will be inclined to lower their own interest rate to compensate and therefore traders have sold AUD
AUDUSD fell to 0.7183 from 0.7225 on the news but has since recovered to 0.7203
Expect offers back into 0.7220-30. Support now at 0.7175 and 0.7150-60
CBA (Commonwealth Bank of Australia) is the country's leading mortgage lender and says the move is to partly offset regulatory costs
