The Latest Breaking News from Interest Rates

The local bourse has gained for a second straight session, supported by resurgent gold stocks and a positive outlook for the Aussie dollar.

When the Reserve Bank of Australia (RBA) board voted unanimously to lift the cash rate to 3.85% on Tuesday, the decision was driven by one overriding concern. It wants to stop the rising cost of living from becoming entrenched.

“We won’t be able to fix the debt without touching Social Security, Medicare, defense, or revenue—the math just doesn’t work. And we can’t count on heroic growth rates or crashing interest rates,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget (CRFB).

The Reserve Bank of Australia (RBA) has lifted the cash rate by 25 basis points to 3.85%, adding to pressure on households and businesses. While the move was widely expected by markets and most economists, the Reserve Bank says inflation risks remain too high to be comfortable.

The Reserve Bank has revised up its prediction for core inflation, with price growth expected to remain above its midpoint target despite higher interest rates.

Greater optimism in PMI survey, adding to signs Bank of England will keep interest rates on hold this week

Two incorrect assumptions have set the Reserve Bank on track for a costly U-turn on interest rates, with borrowers facing steeper repayments on their mortgages.

U.S. futures and Asian shares are lower after a retreat on Wall Street

Those who stuck to minimum loan repayments through last year’s rate cuts will bear the brunt of Tuesday’s anticipated hike, while those already paying extra are in a ‘great position’