RBA cash rate
raised by 0.25% to 2.60%

The Reserve Bank of Australia (RBA) has decided to raise the benchmark interest rate by 0.25%, to 2.60%, effective immediately.

The RBA board appears to be maintaining its focus on containing inflation as it weighs the extent of the hike against the backdrop of declining home prices in several Australian regions, a weakening Australian dollar, and worries about a worldwide recession.

Please get in contact if you’d like to discuss what the news of today means for you and your money. We also have a lot of banks that have actually decided to reduce their variable rates. The best time to get in touch now to discuss this.