Tag: Rba

Australian consumers and businesses to feel the pinch as RBA signals further interest rate increases.

Australian homeowners may be facing another financial setback as the Reserve Bank of Australia (RBA) is potentially considering increasing cash rates. 

The hike in interest rates results in a higher borrowing cost and increases monthly mortgage payments, adding strain on household finances.

Concerns for businesses as high inflation persists, government must address with appropriate budget and policy.

The Reserve Bank has raised official interest rates by another 25 basis points to 3.1 per cent.

The RBA increased the official cash rate by 0.25 percentage points following its regular monthly meeting, bringing it to 2.85 per cent, the highest level since early 2013.

In the Finder RBA Cash Rate Survey, 38 of the 39 experts were asked to predict that the cash rate will move on Tuesday, with 90 per cent predicting a hike of 25 basis points to 2.85 per cent.

Amid growing inflationary pressures and cost-of-living concerns, the RBA has lifted its benchmark interest rate once again by 50 basis points.

RBA Governor Philip Lowe has not ruled out further interest rate increases in coming months to quell inflation.

The Reserve Bank of Australia increased its cash rate by 50 basis points to 1.35 per cent as it wrapped off its July policy meeting.