BREAKING The Reserve Bank has lifted the official interest rate to 0.85 per cent, the second increase in as many months
Speaking before the RBA board meeting, Treasurer Jim Chalmers said homeowners needed to brace for higher mortgage repayments.“Some people have built up a buffer in their home loans, but not everybody has,” he said on Nine’s“The impact of a rate rise on an average mortgage of $330,000, if it’s a quarter of a per cent, that’s about $43 a month.
The ANZ-Roy Morgan measure of consumer confidence fell 4.1 per cent over the past week, with drops in NSW, Victoria, Queensland and Western Australia but an increase in South Australia. ANZ’s head of Australian economics, David Plank, said the fall in confidence was most likely driven by cost-of-living concerns as inflation expectations rose to 5.7 per cent, the highest level since April.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank lifts interest rates for second time in two monthsBreaking: The Reserve Bank has lifted the official interest rate to 0.85 per cent, the second increase in as many months | rachelclun
Read more »
Reserve Bank will lift rates amid cost-of-living pressures, but by how much?The Reserve Bank could lift rates even higher than tipped on Tuesday after Treasurer Jim Chalmers said inflation was worse than the March budget forecast as prices for essentials, including food and petrol, continue to rise | rachelclun
Read more »
Reserve Bank will lift rates amid cost-of-living pressures, but by how much?Jim Chalmers said the cost-of-living squeeze was worse than the March budget forecast, leading to speculation the RBA could raise rates even higher than markets are tipping.
Read more »
Reserve Bank set to raise interest rates again | 7NEWSThe Reserve Bank is set to raise interest rates again, but the big question is by how much.Subscribe to 7NEWS Australia for the latest breaking news video » ...
Read more »
Israeli coalition dealt a blow with loss of West Bank settler law voteTwo members of government vote against extending emergency regulations, which give 475,000 Jewish settlers the same rights as citizens in Israel
Read more »
Bank tech workers seek 10pc-plus salary rises this year: recruiterRecruiter Robert Walters says software developers, DevOps and user experience skills are in the most demand at banks.
Read more »