Interest rates hit highest level since 2008
BREAKING NEWS: The RBA has responded to troubling inflation levels by raising interest rates to their highest point since November 2008.
Borrowers have been hit in the hip pocket yet again. (Image source: Shutterstock.com)
The financial markets had priced in a 90 per cent chance of an interest rate hike and the Reserve Bank of Australia (RBA) didn’t deviate from the script.
The 25 basis point increase takes the official cash rate to an 18-year high of 4.85 per cent.
It’s a tough time for homeowners, borrowers and most households.
If the RBA lifts the cash rate by another 0.25 percentage points in November and lenders pass on the increase in full, Canstar analysis s…
