The interest rates decision that stopped a nation
The Reserve Bank of Australia has resumed its interest rate hike cycle, lifting the official cash rate by 0.25 per cent as it tackles persistent inflation.
The November interest rate rise may take some further heat out of the housing market rebound. (Image source: Shutterstock.com)
The Melbourne Cup Day interest rates decision will erase any winnings many punters might have enjoyed, with the Reserve Bank of Australia (RBA) lifting rates by another 0.25 per cent on Tuesday (7 November).
Michele Bullock, RBA Governor, said inflation was too high for them to ignore and took the official cash rate to 4.25 per cent.
The rate rise marks the end of four months of wait and see from the RBA but is the central bank’s 13th rate rise…
