SBS On the Money: What does the RBA's latest rate rise mean for you?
Source: SBS News
The Reserve Bank has lifted the official cash rate more than expected by 50 basis points to 0.85 per cent, which is now above pre-pandemic levels. That will mean monthly mortgage repayments on a $500,000, 25 year loan increases by $133. Can you afford it, and what happens when rates continue to rise? SBS Finance Editor Ricardo Gonçalves speaks with St.George Bank Chief Economist Besa Deda for more, plus WaveStone Capital's Catherine Allfrey for the market reaction, and a special look at the buy now pay later space with Loftus Peak's Alex Pollak, CIO at Loftus Peak.
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