Interest rates lifted to highest level in 15 years
BREAKING NEWS: The RBA's latest rate rise to 4.60 per cent is putting further pressure on borrowers and property prices, while global economic risks could ultimately determine how quickly the tightening cycle is reversed.
The interest rate rise announced by RBA Governor Michele Bullock will add to the pressure many borrowers are already facing. (Image source: TippaPatt/Shutterstock.com + API Magazine)
Mortgagees have again been left carrying the can for an overheated economy, with the official cash rate on Tuesday (29 September) lifted to its highest rate since 2011.
The Reserve Bank of Australia (RBA) decision to lift interest rates by another 25 basis points to 4.60 per cent will add $114 per month to the average $700,000 loan.
Inflation continues to track beyond the RBA’s preferred 2-3 per cent range, forcing it to wield the only tool at it…
