RBA hikes rates again, boom times for Aussie farmers, Tik Tok usurps Snapchat
FEAR & GREED | Business News
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The Australian Dollar Jumped to Above 66.5 US Cents
The cash rate, used to set other interest rates is now at its highest level since 2012. There are about 3.3 million Australians with a mortgage Michael says. The latest rise will add $114 to the monthly repayments on a $750,000 variable rate home loan that takes the total increase in monthly repayments since the beginning of last year to more than $1800. Alongside the cost of living, or the increases in the cost ofliving, that rise will definitely dent consumer spending. That's why the Reserve Bank and market economists are worried about a recession.
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