Westpac share price jumps after Reserve Bank of Australia rate hike — what to watch next for ASX:WBC
Westpac shares closed up 1.45% at A$39.89 after the RBA raised its cash rate by 25 basis points to 3.85%. The bank will increase variable home loan rates by 0.25% from Feb. 17. Investors are watching for further RBA moves at the next policy meeting in mid-March. Major lenders moved quickly to pass on the rate hike to borrowers.