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The Guardian - AU
The Guardian - AU
National
Antoun Issa

Afternoon Update: RBA rate hike; Kirstie Alley dies; and a heatwave for northern Australia

Kirstie Alley RBA Australia United States Donald Trump Jim Chalmers Itamar Ben Lady Gaga Lukas Coch M23
Philip Lowe, the governor of the RBA, which has raised the cash rate for the eighth straight month.
Philip Lowe, the governor of the RBA, which has raised the cash rate for the eighth straight month. Photograph: Lukas Coch/AAP

The Reserve Bank is warning of more rate hikes to come after it raised the cash rate 25 basis points to 3.1%.

That’s the eighth consecutive rate rise as Australian households edge closer to a mortgage cliff. There’s at least $270bn in housing debt coming off historically low fixed-interest rates next year.

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