Major banks in Australia have announced a 0.25% rise in interest rates after the Reserve Bank lifted official cash rates again on Tuesday.
The rise was the fifth since October and takes the OCR to 4.25% - the highest in 14 months.
The ABC reports the Commonwealth Bank was the first to make a move.
Westpac, ANZ and the National Australia Bank followed suit.
Federal Treasurer Wayne Swan said the rate rise was a consequence of a strengthening economy and rates were still at relatively, low levels.
