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The New Daily
The New Daily
Matthew Elmas

‘Whiplash’: Mortgage bills to rise again as Reserve Bank signals inflation battle isn’t over yet

Inflation RBA Reserve Bank Philip Lowe Tim Lawless Interest Rates Australia
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 heaping pain onto Australian home owners, raising interest rates in May for the 11th time in a year.

The central bank smashed hopes that an April reprieve in the RBA’s record breaking rate hike cycle would continue on Tuesday, raising its cash rate target 0.25 percentage points to a decade-high 3.85 per cent.

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