Reserve Bank raises interest rates to 3.6 per cent in tenth straight hike

The Reserve Bank of Australia has lifted interest rates for the 10th month in a row in its unwavering fight against high inflation.

Νέα αύξηση των επιτοκίων αποφάσισε η Αποθεματική Τράπεζα Αυστραλίας Source: AAP

Australia's central bank has increased interest rates by another quarter of a per cent, taking the official cash rate to 3.6 per cent.

The hike is the 10th in a row and brings interest rates to their highest point in 11 years.

The increase will pile more pressure on mortgage holders who are already feeling the heat from increasing costs.