Imperfect 10: RBA lifts interest rates for tenth time in a row
Borrowers have been hit with a tenth consecutive interest rate rise, adding more than $1,000 to the average monthly mortgage since the first rise back in April.
RBA Governor Philip Lowe has made it clear the tenth rate rise in a row won't be the last. (Image source: Shutterstock.com)
The Reserve Bank of Australia (RBA) has raised the cash rate 25 basis points to 3.60 per cent, hitting mortgage holders with a tenth consecutive interest rate increase.
Borrowers coming to terms with a 50 per cent increase in repayments since April 2022 will need to work the equivalent of an extra 29 hours per month to keep pace with repayments, according to analysis from Canstar.
The pain inflicted on working households by continued interest r…
