RBA and Bank interest rates into the great unknown
Posted
@ Jul 13th 2022 11:08am
- By AD Admin
.
.
.
RBA and Bank interest rates into the great unknown
The Reserve Bank of Australia (RBA) has raised the cash rate by 50 basis points in July, taking it up to 1.35%.
Australia’s major banks fix rates are anywhere from 1.75% to 2.60% for fixed loans with the forecast being a rise to 5.50% by the end of 2022, but know one really knows?
The RBA was quoted in 2021 saying there would not be a rate rise until around 2024, but here we go.
But things could be much worse, and at the end of the day we still live in the lucky country with a strong future ahead of us.
