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Extra $433 a month: RBA says interest rates could hit 1.75% by Christmas

Extra $433 a month: RBA says interest rates could hit 1.75% by Christmas

The Reserve Bank of Australia (RBA) has flagged interest rates could hit 1.75 per cent by the end of the year.

by Shared from Yahoo Finance | May 18, 2022

RBA warns of insolvencies following extended lockdown

If this were to happen, the average variable borrower could be paying an extra $443 a month on their home loan by Christmas, according to new analysis from RateCity.com.au.

Technical assumptions in the RBA board minutes show the cash rate could increase to 1.75 per cent by the end of the year and hit 2.5 per cent by the end of 2023.