SBS Filipino

RBA's rate rise biggest in two decades

SBS Filipino

interest rates rise, Filipinos in Australia, cost of living

The RBA predicts inflation, which currently sits at 5.1 per cent, will further increase this year before returning to the target 2 to 3 per cent range next year Source: AAP


Published 8 June 2022 at 2:36pm
By Krishani Dhanji
Presented by Maridel Martinez
Source: SBS

Many homeowners are facing a significant increase in mortgage rates after the Reserve Bank lifted the cash rate by 50 basis points.


Published 8 June 2022 at 2:36pm
By Krishani Dhanji
Presented by Maridel Martinez
Source: SBS


Highlights
  • The interest rate rise coincides with sharply rising gas and electricity prices
  • Reserve Bank Governor Philip Lowe says the key issue is rising inflation impacted by international and domestic factors
  • The Reserve Bank of Australia says it expects inflation to go higher
There are around 3.5 million homeowners across Australia.


 

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