Australia’s central bank is poised to raise its benchmark interest rate to a level not seen since 2011, marking a significant shift in monetary policy. The anticipated increase would place upward pressure on borrowing costs, potentially pushing typical mortgage repayments higher by over $100 per month. Economists and analysts are closely watching the move, which could further dampen already cooling housing markets. The decision reflects broader concerns about inflation and economic stability amid tightening financial conditions.
Follow the day’s news liveGet our breaking news email, free app or daily news podcastRBA expected to hike cash rate to 4.6%, its highest level since 2011Australia’s key interest rate is expected to hit its highest level since 2011, drag down house prices and add more than $100 to typical monthly mortgage repayments. Continue reading...
