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The New Daily
The New Daily
Business
Matthew Elmas

Mortgage bills to jump $140 in August as inflation worsens

Inflation Philip Lowe RBA Sarah Hunter Reserve Bank Saul Eslake Interest Rates
10 News First – Disclaimer

Home owners will be hit with another painful bill increase this month after the Reserve Bank hiked interest rates to a six-year high on Tuesday, adding about $140 to typical monthly mortgage repayments.

RBA governor Philip Lowe said the fourth rate increase since May was necessary to curb soaring inflation, amid new predictions that prices would rise even faster than earlier feared.

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