The Bulletin

Pain for homeowners as Reserve Bank announces interest rate hike

  • Written by Jeni



Australian home borrowers have copped an historic sixth consecutive monthly interest rate rise to tackle the worst inflation in more than three decades.

The Daily Mail Australia reports the Reserve Bank of Australia increased the cash rate by 0.25 percentage points on Tuesday, taking it to a nine-year high of 2.6 per cent.

The move surprised financial markets and economists who had expected another bigger, 'super-sized' 0.5 percentage point rise.

Read the full report here.

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