Not even 24-hours after the RBA announced a 50 basis point increase to the country?s cash rate, the banks have begun passing the full interest rate rise onto customers.
CBA shares are rallying today after the big bank announced via twitter that it will be passing on the full rate rise to customers, with the increase to take effect within days. Investors are buying into CBA shares today following the announcement.
And investors are impressed with payment card technology solutions provider EML Payments after the company announced a new collaboration with Spain's national post office network to issue around 500,000 virtual prepaid cards loaded with 400 euros each to eligible 18-year-olds as part of the Spanish Government?s Bono Cultural Joven contract.
The financials sector is trading in positive territory today following a sell-off during yesterday?s session
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