Interest rates raised again

The Reserve Bank of Australia has raised interest rates once again, leaving mortgage holders concerned about rising repayments.

The R-B-A has raised the cash rate for the ninth consecutive month in an ongoing effort to combat high inflation rates, with the bank indicating that more hikes are likely to come. Source: AFP / SAEED KHAN/AFP via Getty Images

Key Points

• The cash rate is at 3.35 per cent, its highest level since 2012.
• Experts are advising mortgage holders that if they aren't happy with the rates on their loan there may be options to refinance.
• The series of hikes are contributing to an ongoing rental crisis with many landlords passing these expenses onto their tenants.

The RBA Governor Phillip Lowe, said "further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target."

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Interest rates raised again

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