SMH
·general
·2 hours ago
Reserve Bank raises interest rates for third time this year
The Reserve Bank raised interest rates to 4.35 percent on Tuesday, its third hike this year, citing inflation risks from the Iran war and rising oil prices. The decision adds nearly $100 monthly to average mortgage repayments. The bank downgraded economic growth forecasts and warned of potential per-capita recession, with unemployment expected to rise to 4.7 percent by mid-2028.
Summary by Glance · SMH
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