✉news BusinessBanking first seen 17 h ago, last 5 h ago, peak #6
Australia raises interest rate to highest level in 15 years
Australia's central bank has raised its benchmark interest rate to its highest level in around 15 years, according to the Financial Times. The move means more expensive borrowing for Australian households and businesses, and is aimed at curbing inflation. Reactions so far focus on the pressure this adds to mortgages and the broader cost-of-living squeeze.
Why now: The rate hike directly affects mortgages and living costs, making it a major economic story for Australians.
AustraliaReserve Bank of Australia
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- Australia raises interest rate to highest level in 15 years · Financial Times
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