Rates up 0.25 to 7.25 per cent
March 4th, 2008 | by winsonlee |
Reserve Bank has officially raised its interest rates by 0.25% to 7.25% after today’s monthly central bank board meeting. It is the highest level in 13 years as RBA’s is concern about a worsening inflation outlook. It is the 12th consecutive increase by the RBA since May 2002 and will add about $51 to the monthly repayment on a $300,000 mortgage.
