iscover 
All of the big four banks have now announced a corresponding interest rate hike of 0.25 per cent since the RBA’s decision to raise rates by 0.25 percentage points, with an average time to pass on the hike of 11 days.
The last time there was a rate cut on 12 August 2025, the big four banks took an average time of 11.75 days to pass on the changes in their own rates.
AMP has moved more quickly this cycle, announcing it will pass on the latest hike in six days, compared with 13 days for the August rate cut.
Macquarie Bank trended the opposite way, cutting its rates in just three days after the Reserve Bank of Australia’s (RBA) rate cut in August, but opting for a 17-day delay before implementing the latest increase.
Most major non-bank lenders are yet to announce revised rates following the February decision. At the previous rate cut, Pepper Money took 16 days to adjust rates; Liberty, 15 days; Resimac, 16 days; and Firstmac, 14 days.
On the deposit side, none of the big four banks have yet announced changes to savings rates, while both AMP and Macquarie have confirmed increases.
The banks’ scheduled dates for passing on the RBA’s 3 February rate hike are as follows:
- Commonwealth Bank of Australia (CBA): 13 February (10 days)
- National Australia Bank (NAB): 13 February (10 days)
- Westpac: 17 February (14 days)
- Australia New Zealand Banking Group (ANZ): 13 February (10 days)
- AMP: 9 February (six days)
- Macquarie Bank: 20 February (17 days)
- MyState Bank: 12 February (nine days).
Some of the banks’ new (lowest) interest rates post-RBA rate hike are as follows:
- Commonwealth Bank: 5.59 per cent
- NAB: 5.94 per cent
- Westpac: 5.49 per cent
- ANZ: 5.75 per cent
- AMP: 5.68 per cent
- Macquarie Bank: 5.59 per cent.
Further hikes still on the table
RBA governor Michele Bullock did not rule out further tightening, reiterating that the board remains prepared to act as required to return inflation to target, while supporting full employment.
Following Tuesday’s decision, both Westpac and CBA updated their outlook and now expect another rate hike in May, aligning with the existing forecast from NAB.
Only ANZ continues to view the February move as potentially “one and done”, though it also acknowledged upside risk to the cash rate.
[Related: Mergers remain on agenda for mutual banks]