The Australian Reserve Bank increases cash rate, responding to 2023 inflation | 7NEWS

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The Reserve Bank has piled more pain on home loan borrowers - with back to back interest rate hikes. The RBA today lifted the official rate 25-basis points to 4.1 percent. With economists now warning. Australia is teetering closer to recession. 7NEWS

 

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The first of the big four banks has moved. Passing-on in full yesterday's Reserve Bank interest rate increase. At the same time, a row has erupted over whether boosting the minimum wage was a key factor in the RBA's decision to inflict more rate pain.

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