The RBA’s rate pause is prudent – there’s still a lot of rises yet to hit the economy

The RBA has not raised the cash rate at their April meeting, but mortgage holders are likely to see interest rates continue to rise due to lag from prior hikes. Photograph: Lisa Maree Williams/Getty Images

A couple weeks ago I received a letter from my bank informing me that the rate on our home loan had gone up in February by 0.25% pts. The good news was the new increased payment would only begin in June. This followed a similar letter in February telling me that rates had gone up in December but that our payments would only rise in May.

I have yet to receive the letter informing me about the rise in rates last month, that presumably will lead to our loan payments increasing in July.