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The New Daily
The New Daily
Business
Matthew Elmas

‘Incredibly difficult’: RBA prepares 10th straight rate hike, despite slowing economy

RBA Economy Inflation Nicki Hutley Philip Lowe Reserve Bank Interest Rates
RBA governor Philip Lowe is set to unveil another rate hike on Tuesday, even as the economy begins slowing. Photo: TND

Struggling home owners face more bad news this week as the Reserve Bank prepares, in the view of most economists, to pass through a 10th straight interest rate hike on Tuesday.

The cost of servicing a 25-year, $500,000 mortgage has already risen by $908 a month since May, and if forecasts hold another 0.25 percentage point hike will take that rise to $983.

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