More pain for mortgage owners as rates rise again
The Reserve Bank of Australia has hiked interest rates for the second consecutive month as war in the Middle East compounds inflation concerns. In a split five-four decision on Tuesday, the tightest since the central bank started publishing vote tallies, the RBA’s monetary policy board lifted the cash rate by 25 basis points to 4.1 per cent. It follows a hike of the same size in February. The move was tipped by the majority of economists and money markets, which had priced in the chance of a hike at more than two-thirds. Domestic price pressures, including a tight labour mar