RBA makes it nine in a row as interest rates keep soaring
In a fresh blow to borrowers, the Reserve Bank of Australia has lifted the official cash rate to 3.35 per cent and warned there's more to come.
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The Reserve Bank of Australia (RBA) has surprised few but unsettled many with its ninth consecutive monthly interest rate rise, this time by 0.25 cent.
The February rate rise takes the official cash rate to 3.35 per cent, with the banks sure to follow promptly in lifting their lending rates.
The average variable mortgage rate in Australia in is now 5.78 per cent.
Given it averaged 6.88 per cent from 1990 until 2023, there would still appear to…
