Australia no longer has a record-low cash rate – 0.1 per cent is no more.
On Tuesday, the Reserve Bank lifted interest rates for the first time since November 2010 and this is just the beginning. But don’t panic.
In this week’s episode, we pick apart the RBA governor’s explanation for hiking in May when it wasn’t so long ago that he was suggesting a cash rate hike wouldn’t come until 2024.
We also look at what’s ahead, the impact on your mortgage, your ability to cope with higher payments, what to do if you’re worried, plus what consumers are up to, and what’s happening with new lending.
Find out more about Gillian here.