Following a surprise increase last month, the Reserve Bank of Australia (RBA) today again decided to increase the official cash rate by 0.25%. This means that variable interest rates for home, investment and commercial finance will increase by 0.25%.

 

The decision to lift the official cash rate to 4.10% was promoted by the April Consumer Price Index increasing from 6.3% to 6.8% and concerns around the signaling effect of Friday’s announcement by the Fair Work Commission of a 5.75% boost to the minimum wage.

 

We will update our website interest rates as Australian lenders make their announcements.

 

For more information please visit our residential loan and commercial loan websites