RBA raises cash rate for the 8th month in a row from 2.85% to 3.1%
Posted
@ Dec 7th 2022 1:19pm
- By AD Admin
RBA raises cash rate for the 8th month in a row from 2.85% to 3.1%
The Reserve Bank of Australia (RBA) has raised rates for the 8th month in a row from 2.85% to 3.1%, lifting the official cash rate to its highest level in 10 years.
The Commonwealth Bank, Australia’s biggest home lender, has changed its forecasts to have the Reserve Bank hiking rates again in February to 3.35%, rather than stopping in December.
There is obvious hurt on the way for mortgage holder and renters alike with rapid belt tightening needed to survive comfortably.
