RBA lifts interest rates to level not seen since 2012
The Reserve Bank has raised the cash rate to 4.1 per cent, which is as high as it has been since early 2012, and has made it clear more rate hikes are likely looming.
The average owner-occupier who hasn’t renegotiated their loan since the start of the hikes will be on a rate of 6.86 per cent. (Image source: Shutterstock.com)
The Reserve Bank of Australia (RBA) lifted the official cash rate by 0.25 per cent to 4.10 per cent at its monthly Board meeting on Tuesday (6 June).
The inflation bogey man was again the catalyst for the 12th rate rise in just over a year.
The latest increment means $15,168 has been added to the average Aussie mortgage in Australia since rates were last at 0.10 per cent in April 2022.
In Governor Philip Lowe’s statement, the RBA has reiterate…
