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The Guardian - AU
The Guardian - AU
Comment
John Quiggin and Stephen Koukoulas

The RBA has raised interest rates again. What does this mean for the economy in 2023?

RBA Inflation Interest Rates Economy Reserve Bank Stephen Koukoulas
man walks past reserve bank of australia building
‘If the RBA’s forecast of 3% inflation is wrong, which it appears to be by a large margin, further interest rate hikes will not be needed,’ Stephen Koukoulas says. Photograph: Rick Rycroft/AP

The Reserve Bank on Tuesday raised the cash rate for a record eighth time in as many months to 3.1%, adding pressure on millions of Australians with mortgages ahead of Christmas.

The RBA is worried inflation is still too high and has indicated more rises may be on the cards.

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