RBA forecast to announce sixth consecutive interest rate hike today

It will also mean repayments have increased by $1000 in the past five months, as the RBA continues to battle rising inflation., Governor Philip Lowe said that while further hikes to the cash rate are "required", it will be necessary to slow the speed and size of those hikes.

He said while the RBA was not on a "pre-set path", it was committed to doing whatever was necessary to bring Australia's inflation rate back down to between two and three per cent."I know that higher interest rates are unwelcome for many people, especially those who have borrowed large sums over recent times," Lowe told the committee.

"Higher interest rates are putting pressure on households, just at the time that higher petrol prices and grocery bills are squeezing budgets. So it is a difficult and a concerning time for some people. "The alternative, though, of allowing higher inflation to become entrenched would be even more difficult and it would damage our economic prospects."

IzaStaskowski Again take from the poor until we are all gone! Oh but we have money to send over sea's for a war that will put bullets and food on their tables! Hmmm that sounds about right!

IzaStaskowski Has Albo said what he is going to do to address cost of living issues for struggling Aussie's ?

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