BREAKING: The Reserve Bank of Australia increased the official interest rate for a third consecutive month on Tuesday by 0.5 percentage points to 1.35 per cent, as it moves quickly to curb strengthening inflation.
The Reserve Bank increased the official interest rate for a third consecutive month on Tuesday with a double “business as usual” 0.5 percentage point rise to 1.35 per cent, as it moves quickly to curb strengthening inflation.would add $333 to monthly repayments for a typical $500,000 mortgage, $499 for a $750,000 mortgage, and $665 for a household with a $1 million loan, according to RateCity.
“The Board expects to take further steps in the process of normalising monetary conditions in Australia over the months ahead.” “Medium-term inflation expectations remain well anchored, and it is important that this remains the case,” he added.
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