The RBA has increased interest rates, and most lenders are expected to follow.
If you have a mortgage, now is the time to review your loan and repayments. A better rate or structure could save you thousands over time.
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As expected, the Reserve Bank of Australia increased the official cash rate by 25 basis points to 3.35%. The move was the ninth rise in as many meetings and comes after Australia’s annual inflation rate reached a 30-year high of 7.8% over the December quarter.
Australia’s official interest rate is now 3.10% after the Reserve Bank of Australia lifted the cash rate by 25 basis points following today’s board meeting. let us review your current home loan rate and find out what is best option on the market.
Following its monthly board meeting, the Reserve Bank of Australia (RBA) announced that it has held the official cash rate at 1.5 per cent.
All 31 economists surveyed by rate comparison website predicted the RBA’s verdict, citing uncertainty in domestic and foreign markets.