I think the chance of the others following suit is between likely and certain. I recall at least one of the others stated that they would do this when the RBA moved.

An interesting thing though. If the banks keep on increasing the interest rate above what the Reserve bank dictates, then that actually makes it less likely that the Reserve will need to raise rates so soon next time.I suspect the banks have worked this out and have made a decision that the extra revenue might as well fall to the banks instead of…[Read more]