What does the RBA's latest rate rise mean for you?

Many homeowners are facing a significant increase in mortgage rates after the Reserve Bank of Australia (RBA) lifted the cash rate by 50 basis points. It's the biggest rate rise in more than two decades and coincides with sharply rising gas and electricity prices, leaving many struggling. Govindarajan Appu, a columnist on economics, a certified public accountant and associated chartered accountant in Perth, explains more about it. Produced by Renuka

Source: Getty Images/ Moment. Inset: Appu Govindarajan

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