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Home News Markets expect cash rate to increase to 2.85% | 7NEWS

Markets expect cash rate to increase to 2.85% | 7NEWS

Albion News Oct 04, 2022 comments off
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Interest rates are set to rise for the 6th month in a row when the Reserve Bank board meets later today, with the market expecting the cash rate will increase to 2.85% . If banks pass the full rise onto customers, that’s almost a $150 monthly increase on a standard $500,000 loan. And when combined with previous rate hikes, it equals an extra $760 per month.

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