NAB keeps mortgage rates on hold at 5.24% 'to rebuild customer trust'

Bank to leave standard variable rate unchanged despite lift in rates by Westpac, Commonwealth and ANZ

The National Australia Bank is keeping its variable mortgage rates on hold despite moves by its big three rivals to hike rates in response to increased funding costs.

NAB’s chief executive, Andrew Thorburn, indicated the bank’s decision was a direct result of an environment in which huge profits and revelations of misconduct aired at the royal commission had damaged the big banks’ public standing.

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from The Guardian https://ift.tt/2CDYv7i
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