Cup Day Rate Rise, published Thursday 9 Nov 2023
Labeled ‘the safest bet of the day’, the Reserve Banks’ Cup Day increase in the official cash rate by 0.25% came as no surprise. It is the 13th rate rise since May 2022 and takes the official rate to a 12 year high. Lenders are expected to pass on the rise to variable rate home […]
The RBA resumes rate rises. Published Thursday May 4 2023
The Reserve Bank increased the official cash rate on Tuesday May 2nd by 25 bases points, taking the cash rate to 3.85%. It was a move that took many by surprise. CBA was the only major bank that forecast the increase. The other three banks, and other economists expected that there would be no change […]
Interest Rate Update, published March 9 2023
The Reserve Bank increased the cash rate by 0.25% at its March 7th Board meeting. The cash rate now sits at 3.6%, the highest level since 2102. It is expected that lenders will pass this on in full to borrowers resulting in higher mortgage repayments. After ten consecutive months of rate rises, pressure on household […]
2022 Wrap Up, published Dec 15 2022
After about ten years of falling interest rates, and a year in 2021 of no change at all to the cash rate, 2022 delivered a completely new landscape for borrowers. The Reserve Bank started its cycle of rate rises in May. Month after month, the cash rate rose, and lenders passed it on. For many […]
December Rate Rise, published Friday 9th December 2022
At it’s monthly meeting on Tuesday 6th December, the Reserve Bank announced the 8th consecutive interest rate increase of 0.25%, taking the cash rate to 3.1%, the highest it has been in a decade. Major lenders promptly announced they would pass the increase on to borrowers, resulting in higher loan repayments for variable rate loans; […]
Interest rate update, 7 November 2022
On Cup Day, Tuesday 1st November, the Reserve Bank increased the cash rate for the seventh consecutive month. The 0.25% increase took the cash rate up to 2.85%. Within days most major lenders had passed this on to borrowers which will result in another increase in mortgage repayments for variable rate loans. In the Reserve […]
Interest rate update, 5th October 2022
The Reserve Bank increased the official interest rate by 0.25% yesterday taking it to 2.60%. While this rate rise is lower than what many economists forecast, the Reserve Bank indicated in their press release that it’s probably not the last. “The Board is committed to returning inflation to the 2–3 per cent range over time. Today’s increase in […]
Interest Rate Update, 7 Sept 2022
Official interest rates reach the highest level since 2014. As expected, the Reserve Bank increased the official interest rate again yesterday – by 0.5%, taking it to 2.35%, the highest level it has been since 2014. It is the Reserve Bank’s fifth consecutive rate increase. It is widely expected that banks and lenders will pass […]
Reserve Bank announces 4th consecutive rate rise, published Aug 2nd 2022
The RBA increased the cash rate on Tuesday August 2nd by 0.50%, taking it up to 1.85%. The Reserve Bank Governor indicated in his post-meeting statement that this was probably not the last rate rise. “The board expects to take further steps in the process of normalising monetary conditions over the months ahead, but it […]
June Interest Rate Update: RBA makes the biggest cash rate increase in 22 years. Published June 10th 2022
The RBA increased the cash rate on Tuesday 7th June by 0.50%, taking it up to 0.85%. Although the increase was highly anticipated, it was bigger than expected. In fact, it was the biggest cash rate increase since 2000. Major banks and many more lenders have announced they will be increasing variable home loan rates […]
