RBA lifts interest rates for seventh month in a row
Australian mortgage holders have been dealt a seventh consecutive rate hike and can expect to pay hundreds more in interest per month following the RBA's Melbourne Cup day announcement.
The scourge of inflation that is hitting economies around the world has again forced the RBA's hand in raising interest rates yet again. (Image source: Shutterstock.com)
The Reserve Bank of Australia (RBA) has responded to persistent inflation with another 0.25 per cent rise in the official cash rate.
On the same day protesters tried to sabotage Flemington racecourse and the Melbourne Cup, inflation has sabotaged the economy and driven interest rates to 2.85 per cent.
The inflation horse has clearly bolted, having climbed to 7.3 per cent in quarter three of 2022, from 6.1 per cent in the second quarter of 2022,…
