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AAP
AAP
Business
Paul Osborne

UNBELIEVABLE: Rate rise expected to hit households hard - The Untold Story

Reserve Bank Craig James RBA

The Reserve Bank is expected to take the cash rate to its highest point in over a decade, as its past hikes start to bite households.

The RBA board is widely anticipated to announce a 25 basis point rise when it meets on Tuesday, taking the cash rate to 3.35 per cent.

RateCity says this will mean an extra $908 a month in total for the average borrower with a $500,000 loan, since the start of the hikes last May.

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