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The New Daily
The New Daily
Business
Matthew Elmas

Reserve Bank hikes interest rates in May despite slowing inflation

Inflation RBA Interest Rates Philip Lowe Board
The Reserve Bank has opted to resume interest rate hikes in May, saying inflation is still too high despite slowing recently. Photo: AAP

The Reserve Bank has resumed hiking interest rates, dashing hopes of another mortgage bill reprieve in May.

The cash rate will rise 0.25 percentage points to 3.85 per cent, a decade high, adding $78 to monthly repayments on a $500,000, 25-year loan.

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