Six lenders announce increases to variable mortgage rates

Discussing how SMEs were managing official cash rate rises, OnDeck Australia CEO Cameron Poolman (pictured below) said most small businesses were taking the increases in their stride.

“As our rates are fixed, our customers can be confident that changes to the official cash rate won’t affect their cash flow,” Poolman said.

Other issues, such as cyber security and rising energy prices, were having a greater impact on profitability, he said.