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Interest rates hiked again, impacting the real estate market
A man walks past the Reserve Bank of Australia in Sydney on Tuesday, Aug. 2, 2022. Australia’s central bank on Tuesday boosted its benchmark interest rate for a fourth consecutive month to a six-year high of 1.85%. (AP Photo/Rick Rycroft) Source: AP / Rick Rycroft/AP
As part of its effort to bring inflation into its target range of two to three per cent, the Reserve Bank of Australia has raised the official cash rate by 50 basis points. Increasing interest rates for the fourth time this year is expected to have a significant impact on homeowners.
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