The federal Government yesterday finally introduced to parliament legislation to adopt recommendations of the 2014 Harper Competition Policy Review. One change will replace the price-signalling provisions with a general prohibition on concerted practices with the purpose, effect or likely effect of substantially lessening competition. The government issued an exposure draft of the bill six months ago. Industry super fund-owned bank ME is to increase its investor home loan reference rates by 25 basis points, moving its standard variable rate to 5.28 per cent, effective 27 April 2017. The bank said the change was made to address increasing regulatory and compliance costs and to ensure the bank remains within investor lending growth limits. The move will affect new and existing investor borrowers, while the standard variable reference rate for owner-occupier home loans remains unchanged at 5.03 per cent annually.