Australia's CBA raises mortgage rates by 37 bps

SYDNEY, Dec 4 (Reuters) - Commonwealth Bank of Australia Ltd , Australia's second-largest lender, raised its variable mortgage rate by 37 basis points on Friday after Australia's central bank lifted the benchmark rate by 25 basis points earlier this week.

Competitors Westpac Banking Corp and National Australia Bank Ltd raised their mortgage rates by 45 basis points and 25 basis points respectively, in response to the central bank move. Australia and New Zealand Banking Group Ltd said it is reviewing rates.

(Reporting by Morag MacKinnon, Editing by Denny Thomas)

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