RBA resumes its attack on inflation with another rate hike
Interest rates are now at their highest level in more than ten years after the RBA’s official cash rate was lifted by another 0.25 per cent.
After a pause for breath last month, the RBA has resumed its attack on inflation with another interest rate hike. (Image source: Shutterstock.com)
The Reserve Bank of Australia (RBA) has hit Australian borrowers with an 11th rate rise in 12 months, lifting the official cash rate by 0.25 per cent to 3.85 per cent.
Tuesday’s interest rate hike defied the expectations of most commentators, who felt that the steady decline in the inflation rate might be enough to assuage the RBA. The market had only priced in a 13 per cent chance of rates rising this month.
Interest rates are now at the highe…
