Suncorp & Bendigo consider raising rates

Suncorp Bank chief executive David Foster said global funding markets remained "volatile” and the pressure was effecting all local lenders.

“To date, Suncorp Bank has absorbed much of the increased funding costs,” he said. “We will continue to review this position over the next few months.”

Bendigo and Adelaide Bank managing director Mike Hirst told the newspaper that the lender was also feeling the pinch of funding costs.

“There is no doubt our cost of funding is higher than it was six months ago, and we will continue to consider our interest rate pricing at our regular pricing meetings,” he said.

Source: Australian Financial Review

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