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Westpac Raises Mortgage Rates Amid Leadership Changes

12/9/2025

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Summary

Story summary

Westpac increased fixed mortgage rates by 30 basis points due to rising wholesale rates.
To offset this, Westpac will cut its six-month special rate by 20 basis points, the lowest among major banks.
Westpac is also raising its term deposit and PIE fund rates.
The new Reserve Bank Governor, Dr. Anna Breman, will address the media soon after criticism of her predecessor's communication strategy.

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Story summary

Westpac increased fixed mortgage rates by 30 basis points due to rising wholesale rates.
To offset this, Westpac will cut its six-month special rate by 20 basis points, the lowest among major banks.
Westpac is also raising its term deposit and PIE fund rates.
The new Reserve Bank Governor, Dr. Anna Breman, will address the media soon after criticism of her predecessor's communication strategy.