Watch FIFA World Cup 2026™ LIVE, FREE and EXCLUSIVE

Watch

Reserve Bank hikes rates to 12 year high

Published
The Reserve Bank has signalled that it is serious about taming inflation lifting interest rates by an additional 25 basis points and ratcheting the cash rate up to 4.35 per cent, its highest level since late 2011. The increase follows a temporary reprieve for borrowers, but today's lift threatens to push many to the brink.
Tags
Australia
Share

Recommended for you

A graphic of stock market panel and fighter jets
Cars line up to purchase fuel at a service station.
A hand holding a petrol pump
A man wearing a hat and a blue beach shirt stands beneath a tall coconut tree, his hands clasped in front.
A man in a blue shirt fills his car with petrol at a petrol station
Russian President Vladimir Putin seated at a desk in front of a microphone.
A composite image showing a busy street in South Asia filled with motorcyclists on the left, and a Shell “Reddy express“ fuel price sign on the right. The left side captures several commuters on motorbikes wearing helmets in dense traffic. The right side features a tall white petrol station sign displaying a “save 4¢“ offer, with Unleaded priced at 213.9 and Diesel at 191.9.
A sunny street scene features a row of historic storefronts with awnings, parked cars along the curb, and a dedicated green bicycle lane running parallel to the road.

Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Watch now

Watch the latest news videos from Australia and across the world