Tom Elliott says Westpac has ‘basically lied’ about interest rate rise

Westpac has ‘basically lied’ about its motive for increasing interest rates, says Tom Elliott.

The 3AW Drive host said the bank, which raised its variable home loan rate by 0.2 per cent, was ‘telling a porky’ by saying it was for ‘capital requirements’.

‘It is absolute nonsense, in fact it is verging on a lie,’ he said.

LISTEN: Tom Elliott calls Westpac out on 3AW Drive