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Prime Minister calls on Westpac to explain home loan rate hike

All eyes are on the remaining three big banks today after Westpac announced it will raise its variable home loan rate on September 19. Prime Minister Scott Morrison says there are still plenty of questions yet to be answered, and is calling on the bank to justify the rate hike to customers who are ‘already doing it tough’. Westpac credits the hike to an increase in wholesale funding cuts. Image: Hollie Adams / News Corp Australia

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