National Australia Raises Business Rates as Funding Costs Rise
- Some borrowing rates rise by as much as 29 basis points
- National Australia cites economic and regulatory environment
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National Australia Bank Ltd. raised some business lending rates citing increased costs in a move that may spur competitors to follow.
The nation’s largest lender to businesses increased its short-term borrowing rates by between 8 basis points and 29 basis points though it left its benchmark and long-term rates intact, it said in an e-mailed statement Tuesday.