Macquarie Bank has raised its variable rates. This follows other banks in Australia. The Reserve Bank of Australia recently raised rates to fight inflation. Macquarie Bank's move is part of a trend among Australian banks. They are responding to higher inflation. The Reserve Bank raised rates to an 18-year high. This has led other banks to follow similar actions. Macquarie Bank's latest adjustment matches other banks' moves. They are handling the economic effects of rising inflation.