Reserve Bank raises interest rates for third time this year

The Reserve Bank raised its cash rate to 4.35 percent on Tuesday, the third increase this year, citing inflation risks from the Iran war. The move adds nearly $100 monthly to average mortgage repayments. The central bank downgraded growth forecasts to 1.3 percent by year-end and warned of potential per-capita recession as unemployment rises toward 4.7 percent by mid-2028.

Summary by Glance · Brisbane Times