Power bills to rise 24pc, costing households $500<\/a><\/p>\nIt represents a significant shift from the beginning of the year, when fixed and variable rates were generally on par.<\/p>\n
Among the \u2018Big Four\u2019 banks, NAB currently offers the lowest fixed rate, with a one-year term available at 5.74 per cent. <\/p>\n
![\"\"\/](\"data:image\/svg+xml,%3Csvg)
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Big four bank, ANZ, has today hiked fixed rates by up to 0.25 percentage points, ahead of Tuesday\u2019s cash rate decision.<\/p>\n
<\/p>\n
However, the overall landscape for competitive fixed rates is rapidly diminishing. <\/p>\n
The lowest fixed rate available on Canstar.com.au is now 5.24 per cent from Southern Cross Credit Union, applicable for both one and two-year terms. <\/p>\n
As a result of the rate hikes, just four lenders are still offering at least one fixed rate under 5.40 per cent. At the start of the year, it was 62.<\/p>\n
Sally Tindall, Canstar.com.au\u2019s data insights director, commented on ANZ\u2019s move, stating, \u201cANZ has jumped the gun on the RBA, lifting fixed rates just four days out from the central bank\u2019s next decision.\u201d <\/p>\n
She further explained that \u201cfixed rates are typically the early warning signal for where rates are headed. When they start creeping up before an RBA meeting it\u2019s a sign lenders are pricing in a hike before it materialises.\u201d <\/p>\n
<\/p>\n
<\/p>\n
Tindall also noted that the fact the majority of ANZ\u2019s fixed rates now sit above 6.00 per cent will feel like a \u201cpsychological shift for borrowers.\u201d<\/p>\n
With many economists increasing their cash rate hike expectations due to high inflation and soaring petrol prices, some borrowers may be contemplating fixing their rates. <\/p>\n
Tindall advises, \u201cIf that\u2019s you, don\u2019t panic. Walk through the decision with a calm and clear head, noting the risks on both sides and the extra rules and restrictions that come with locking in your rate.\u201d <\/p>\n
While the cash rate could rise in the coming weeks, she also acknowledges that global events could potentially lead the RBA to revert to cuts in the future. <\/p>\n
Despite the closing door on many competitive deals, with only a handful of lenders still offering rates under 5.40 per cent, shopping around remains crucial for borrowers, regardless of whether they choose a fixed or variable rate.<\/p>\n
This article was originally published on
\n 13 Mar 2026 at 12:15pm
\n but has been regularly updated to keep the information current.<\/p>\n","protected":false},"excerpt":{"rendered":"In a bold pre-emptive strike just days before the Reserve Bank of Australia\u2019s next cash rate decision, ANZ…\n","protected":false},"author":2,"featured_media":536984,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-536983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/536983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=536983"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/536983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/536984"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=536983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=536983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=536983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}