Reserve Bank of Australia raises interest rates by half percentage point – fastest rises since 1994

Australian home borrowers have now copped the harshest rate increases in almost three decades with the Reserve Bank raising the cash rate by another half a percentage point.

The latest 0.5 percentage point rise on Tuesday takes the cash rate a three-year high of 1.35 per cent from 0.85 per cent. 

This rise, on top of the May and June increases, means home borrowers have now copped 1.25 percentage points worth of rate increases over three consecutive months – the steepest increase in such a…

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Written by Bourbiza Mohamed

I have 26 years of experience as a professional writer and editor and have been working as a full time freelancer since 2011. I am originally from Casablanca, Morocco, and I graduated from Qatar University with a degree in journalism. I have worked for newspapers, magazines, news agencies, websites. I speak fluent Arabic, French, English, Russian and Spanish.

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