Interest rate

The Reserve Bank of Australia (RBA) has set the cash rate for June 2024 at 4.35%. For comparison, it was 0.10% at the start of 2022.

The RBA is Australia’s central bank. Its key responsibility is setting the ‘cash rate’ — an interest rate it charges commercial banks for short-term loans.

RBA Governor hints at pausing interest rate increases, following tenth consecutive rate rise, to assess the economy.

What are interest rates, and how does it affect housing?