Commonwealth Bank Lifts Term Deposit Rate Before RBA Decision — But ANZ Still Pays More
Commonwealth Bank of Australia raised its 12-month term deposit special to 5.20% per annum from May 1, just ahead of the Reserve Bank’s May 5 rate decision. ANZ leads major banks at 5.25% for a similar term. A Reuters poll found most economists expect the RBA to lift the cash rate to 4.35%. CBA shares closed Friday at A$173.04, down 0.36%.