HI, I'm with Westpac too, by my interest rate is higher than yours and I also received a letter from Westpac and they increased from 5.30% to 5.45%. :( I called my banker and she said they could not avoid the increase of the floating rate, and she suggested we choose to fix some amounts. BTW, do you need to pay any monthly account fee ($9.95) for your Westpac account? Thanks!!