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Australia's biggest bank unloads with its biggest ever rate hike

Australia’s largest bank has ended the fiscal year with a bang that will shake the foundations of many borrowers.

Commonwealth Bank of Australia's glass office tower building at Darling Harbour.
CBA is hitting fixed rate borrowers as it seemingly shifts its pitch towards variable rate mortgagees.

The era of rock-bottom interest rates has come to a screeching halt.

Australia’s largest bank has ended the fiscal year with a bang that will shake the foundations of many borrowers, and other banks are not far behind.

Commonwealth Bank (CBA) hiked fixed rates by a massive 1.40 percentage points for both owner-occupiers and investors on all fixed rate terms.

RateCity.com.au Research Director, Sally Tindall, said it represented the biggest one-…