The Reserve Bank of Australia has announced their decision to increase Interest Rates by 0.25% p.a. for the 3rd month in a row. This is the first time that interest rates have increased over 3 consequecutive months, however, the RBA believes this is a necessary step to ensure inflation is kept under control. Read more
30 minutes prior to the running of the Melbourne Cup the Reserve Bank of Australia announced an increase to the Official Interest Rate of 0.25% p.a.
Within 10 minutes ANZ announced it would be passing on the full rate increase to borrowers with CBA, NAB, Westpac and St George following suit soon after. Read more