Australia's interest rates rise 0.25%

The Reserve Bank of Australia increased interest rates to 5 percent on Wednesday. It was the first time the RBA changed the official cash rate since June 2002.

Source: The Age

Homebuyers face the first hike in their mortgage repayments in almost a year and a half after the Reserve Bank today moved to lift interest rates by a quarter of a percentage point.

The bank said the official cash rate target would rise to five per cent, up from 4.75 per cent, where it has been since June last year.

The la

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