RBA Hikes Rates Again, Mortgage Holders Feel Pinch
Adelaide News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The Reserve Bank of Australia raised interest rates for the second time in two months, with a close five-to-four vote, increasing the cash rate by twenty-five basis points to four point one percent. This move aims to combat stubborn inflation, which hit three point eight percent last January, well above the two to three percent target. Economists warn that this will squeeze mortgage holders, as households already felt the pinch when rates rose last time. Markets now expect two more hikes next year, pushing rates to four point six percent by Christmas.
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