The Reserve Bank has hiked rates for the first time in over two years, with mortgage holders to bear the brunt of dealing with an unexpected jump in inflation through the second half of 2025. The RBA monetary policy board at the end of its two-day meeting announced the cash rate target would lift to 3.85%, from 3.6%. The widely anticipated decision marks the end of the shortest rate-cutting cycle in the RBA’s modern history, after three reductions in the cash rate target in February, May and August of last year. The quarter of a percentage point increase will increase
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