Reserve Bank of Australia Raises Cash Rate to 4.6%, Highest Since 2011
Source Summary
The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.6%, marking the highest level since 2011. This is the fourth rate increase in 2024 and will increase mortgage repayment costs for millions of Australian households.
Why it matters
The RBA's continued rate increases directly raise borrowing costs for Australian households and businesses, affecting mortgage affordability and economic activity across the country.
