Interest rates hit 15-year high at 4.6% | 7NEWS

1 hour ago The News Room

The Reserve Bank of Australia has increased the cash rate by 25 basis points to 4.6%, marking a 15-year high and the fourth interest rate rise this year. Reserve Bank Governor Michele Bullock cited global oil prices, the AI boom and persistent inflation as factors, while noting domestic spending and investment have been stronger than expected. The rate increase adds $119 per month to the average Australian mortgage of $731,000, with mortgage holders facing nearly $6,000 in additional annual costs from this year’s cumulative rises.

Subscribe and set 🔔 » https://7news.link/YTSubscribe |

For the latest Australian news and breaking news alerts, connect with 7NEWS online:
Visit » https://7news.com.au
7Plus » https://7plus.com.au/
7NEWS Podcast » https://open.spotify.com/user/dm9fk9hzoe68ibpttheragdgi
Facebook » https://www.facebook.com/7NewsAustralia
TikTok » https://www.tiktok.com/@7newsaustralia
Instagram » https://www.instagram.com/7newsaustralia/
X » https://x.com/7NewsAustralia

7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, Spotlight and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7 News Australia full broadcasts and full episodes at 6pm and weekdays at 12pm and 4pm on Channel 7 and 7plus.

#BREAKINGNEWS #7NEWS