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The Flinns

Reserve Bank Raises Interest Rates Again

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HI PIO'ers

 

The Reserve Bank of Australia has raised interest rates for the sixth time in seven months amid rising inflation and surging house prices.

 

The 25 basis point rise in rates takes the official cash rate to 4.5 percent and will add around $45 to the monthly repayment on a $300,000 mortgage.

 

Since the RBA began its current cycle of rate hikes in October last year, monthly repayments have gone up by around $250.

 

Kind Regards,


Howard, Maria, Jamie and Sam

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