Interest Rates rise for tenth consecutive time
The Reserve Bank of Australia today announced that interest rates would rise for a a tenth consecutive time- increasing by 0.25% to 3.6%.
This represents the highest interest rates have been since 2012, where they hit 3.6% in May of that year.
RBA governor, Phillip Lowe, has signaled that at least one more rise might be on the cards, but analysts predict things will start to stabilise soon.
Produced By: Matthew van Wyk
Featured In Story: Professor Tim Harcourt, Chief Economist, Institute of Public Policy, UTS
First aired on The Wire, Tuesday 7 March 2023