The Reserve Bank of Australia rate hike came as a surprise to market participants
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Commonwealth Bank of Australia said on Tuesday it would raise its home loan variable interest rates by 0.25% per annum, after the country's central bank hiked its cash rate by 25 basis points to 0.35% and warned of more to come.
The Reserve Bank of Australia rate hike came as a surprise to market participants, and a majority of analysts in a Reuters poll had expected a rise to only 0.25%.
(Reporting by Harish Sridharan in Bengaluru; Editing by Rashmi Aich)
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