The Reserve Bank raises interest rates for the ninth meeting in a row, taking the cash rate target to its highest level since September 2012.
abc.net.au/news/reserve-bank-raises-interest-rates-25-basis-points/101940634The Reserve Bank has raised interest rates for the ninth meeting in a row, taking the cash rate target to its highest level since September 2012.
The 0.25 of a percentage point increase at today's RBA board meeting leaves the benchmark rate at 3.35 per cent, with average variable mortgage rates now topping 6 per cent. The increase adds a further $114 a month to repayments on a $750,000 home loan, taking the total increase in mortgage costs to $1,362 a month for such a borrower since rates started rising in May last year.
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