Another interest rate double hike from aggressive RBA
In its desperate bid to suppress rampant inflation, borrowers have been hammered with yet another super-sized interest rate increase from the Reserve Bank of Australia.
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The Reserve Bank of Australia has hit homeowners with a fifth consecutive monthly interest rate hike, again unloading with a 50 basis point (0.5 per cent) hike that will stretch millions of household budgets.
In announcing its decision the RBA Board made it clear that the new official cash rate of 2.35 per cent is set to rise further before the year is out.
“The Board expects to increase interest rates further over the months ahead, but it is n…
