Police believe a Victorian teenager accused of the sexual assaults of eight women and girls in the surf at a popular Gold Coast beach may have more victims.

The 18-year-old, from the regional city of Geelong, is alleged to have sexually assaulted five girls aged 15 and three women aged between 17 and 24 within a half an hour period at Surfers Paradise beach on Tuesday.

Bank of Queensland's decision to lift its standard variable rate for owner-occupiers and for investment properties makes it the first Australian bank to increase interest rates since late last year Credit:Glenn Hunt

The alleged victims were swimming in three groups between the flags just after midday when the man is alleged to have swum between them and committed the assaults.

Two told police he attempted to digitally rape them.