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.
The RBA is expected to increase the cash rate today, adding to already mounting pressure on Australian households and businesses.
The Reserve Bank of Australia (RBA) could potentially raise interest rates today for the first time in 11 years.
RBA decided to keep the official cash rate – the rate banks pay to lend to and borrow from one another – at 0.1 per cent.
A policy analogy describes the nation as a farm. The RBA is in charge of irrigation on this farm. What happens when they turn the water off?
A weakened Australian Dollar may spell bad news for Australia’s economic recovery.
