“We also understand that any change to a household budget can be difficult and given it has been almost 12 years since rates have increased and many of our customers have never experienced a rate rise, we are committed to supporting our customers through this change. “With rates at historic lows, we know that many of our customers have been preparing for the changing environment and are on average 15 months ahead on their loan repayments,” said Group Executive, Retail Banking, Martine Jager. In making this decision, we carefully considered our customers, our business and the broader economic environment.
BOQ today confirmed changes to interest rates for home loan customers following the Reserve Bank of Australia’s (RBA) decision to lift the cash rate by 0.25%.įrom 13 May, BOQ will lift variable home loan interest rates by 0.25% per annum.
