Homeowners across Australia will be feeling a sigh of relief, as the RBA announces it has kept the interest rates on hold at 3.6% after today's monthly meeting. Mortgage rates are to be put on hold for the first time since May last year, which is a major boost for homeowners. After an historic 10 rises in a row, the cash rate will now stay at 3.6 per cent for at least another …
RBA announces its 10th rate rise
Reserve Bank Governor Philip Lowe has issued a grim update on Australia’s battle with rampant inflation, after the RBA lifted rates for a tenth consecutive time to 3.6 per cent on Tuesday. The expected 25 basis rise was confirmed after the Reserve Bank board met on Tuesday afternoon, with the cash rate at its highest since June 2012. Mr Lowe flagged more “tightening of monetary policy will …
Ninth Consecutive Interest Rate Rise
Australia’s central bank has slugged borrowers with another increase in interest rates, extending the record run of hikes to nine meetings in a row as it tries to cut inflation, and indicating there are “further increases” to come. The Reserve Bank at its first board meeting of 2023 on Tuesday raised its cash rate 25 basis points to 3.35%, its highest level in just over a decade. Most …
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RBA has raised interest rates again at the final 2022 meeting
The Reserve Bank of Australia has hiked rates for the eighth time this year at its final board meeting for 2022 - announcing a 25 basis point increase to take the official cash rate to 3.10 per cent. Announcing the latest rise, RBA governor Philip Lowe said that high inflation figures were still weighing on the board's mind and that inflation figures were still far too high for the bank to …
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Australia’s cash rate has been raised by another 25 basis points
The Reserve Bank of Australia (RBA) has chosen to lift the interest rate by just 25 basis points – the same rise as in October – for the seventh increase in as many months. The cash rate will now sit at 2.85 per cent, although another rate rise is still looming on the horizon in December, just in time for Christmas. As seen on Domain, some economists were predicting a bigger 50 basis point …
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Another rate rise from the RBA
The Reserve Bank of Australia (RBA) has confirmed it is lifting the cash rate for the sixth consecutive month, with another 25 basis point increase following October’s Board meeting. The cash rate has now surged to a nine-year high following a rapid 250 basis points increase in just 153 days, as the RBA battles to curb rising inflation. Philip Lowe, Governor of the Reserve Bank of Australia, …
RBA rises interest rates at their fastest pace in three decades
At their monthly meeting this afternoon, the RBA has decided to further raise its cash rate by 50 basis points, taking it from 1.85% to 2.35%, it's fastest pace in three decades. Shane Oliver, Chief Economist at AMP, told news.com.au, "They've done five hikes in a row, four consecutive 0.5 per cent increases, it's the fastest tightening cycle since 1994." On top of that, Australia's 2.35 per cent …
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RBA Hikes Cash Rate to 1.85%
At its monthly meeting today, the RBA once again has decided to raise Australia's cash rate by 50 basis points, taking it up to 1.85%, with predictions of more hikes to come over the coming months. As stated in Domain's article today, in a statement by RBA governor Philip Lowe, recent increases in interest rates were required to bring inflation back to target, while also flagging further rate …
RBA Raises Interest Rate to 1.35%
Today the RBA raised the interest rate to 1.35%, a further 50 basis points from their rise in June 2022, marking its third monthly rate rise in a row. As stated in Domain's article today, in a statement following today’s decision, Mr Lowe said inflation was expected to peak later this year before settling into the Bank’s target 2 to 3 per cent range next year as global supply issues ease and …
RBA Raises Interest Rate to 0.85%
Today's monthly interest rate meeting saw the Reserve Bank of Australia raise the current cash rate to 0.85%, returning to its highest level of since September 2019. This shock move also marks the first back-to-back rate rise in 12 years. In a statement, RBA's Governor Philip Lowe said "today's increase in the interest rates by the Board is a further step in the withdrawal of the extraordinary …