In a move that has taken markets by surprise, the Reserve Bank ((RBA)) has lifted interest rates again after a month-long pause. The Bank has lifted rates by 25 basis points to 3.85 per cent, making Australia's interest rates the highest they have been for 11 years, while still at a relatively low level.
Federal Treasurer Jim Chalmers says while this will undoubtedly cause difficulties for Australian home owners struggling with mortgage repayments, rate hikes are necessary to combat inflation.
Listen to SBS Indonesian every Monday, Wednesday, Friday, and Sunday at 3 pm.
Share
