Finance Australia

... financing Australian dreams

Finance Australia :: News

Share this news item!

RBA lifts official interest rate

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Reserve Bank of Australia lifted the official cash rate by 25 basis points at its meeting Today.

The RBA board decided to increase the rate from a record low of 0.1%, to 0.35% and the interest rate on exchange settlement balances was lifted 25 percent to 0.25%.

The board judged that now was the right time to begin withdrawing some of the extraordinary monetary support provided to help the Australian economy through the pandemic.

The resilience of the Australian economy is particularly evident in the labour market, with unemployment declining over recent months to 4%, according to RBA Governor Philip Lowe.

“Both job vacancies and job ads are also at high levels,” he said.

“The central forecast is for the unemployment rate to decline to around 3.5% by early 2023.”

Lowe went on to say that inflation was significantly higher than expected a year ago, although it remained lower than in most other advanced economies.

Published:Tuesday, 3rd May 2022
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Finance News

Tesla Model Y Tops Australian Sales Charts Amidst Surge in EV Adoption

07 Jun 2026: Paige Estritori

In a landmark development for Australia's automotive industry, electric vehicles (EVs) have achieved a significant milestone, accounting for 29.6% of new car sales in May 2026. This surge underscores the nation's accelerating shift towards sustainable transportation. - read more

Subaru Launches Uncharted Electric SUV in Australia

07 Jun 2026: Paige Estritori

Subaru Australia has expanded its electric vehicle lineup with the introduction of the Uncharted, a compact electric SUV priced at $59,990 plus on-road costs. This new model aims to provide an affordable yet high-performing option for Australian consumers seeking sustainable transportation solutions. - read more

BMW Launches iX3 40 Electric SUV in Australia

07 Jun 2026: Paige Estritori

BMW Australia has expanded its electric vehicle portfolio with the introduction of the iX3 40, a luxury electric SUV priced at $89,900 plus on-road costs. This strategic pricing places the iX3 40 below the Luxury Car Tax threshold, making it an attractive option for consumers seeking premium electric mobility. - read more

Click for more Finance News

Time to Refinance?

If you are seeking lower rates, lower fees and more flexibility in your home loan. you are in luck! Our national panel of mortgage brokers is looking forward to an opportunity to assist you. Apply online for a free eligibility assessment and one of our broker network refinance specialists will get on the case to track down the best deal for your individual circumstances. Without any obligation and at no charge to you!

... start here ...

Finance Articles

Maximizing Your Borrowing Power: Strategies for Home Loan Comparison

When you're on the journey to owning your dream home, securing the right home loan is as critical as choosing the perfect location. The benefits of using online home loan calculators can't be overstated, as they wield the power to illuminate the murky depths of mortgage rates, terms, and payments with surprising precision. - read more

The Road to Recovery: How to Rebuild Your Credit for Future Loans

In today’s economy, a good credit score is more than just a number—it's a pivotal element of financial health that can open doors to necessary funding when it's most needed. Whether it's for purchasing a new home, investing in a business, or obtaining personal loans, a robust credit score in Australia is your ticket to favorable interest rates and loan terms. - read more

Top Mistakes to Avoid When Saving for Your First Home

Embarking on the journey to homeownership is both exciting and daunting. It's a significant milestone that requires careful planning and disciplined saving. For many Australians, buying a first home represents a dream come true, and it's essential to approach it strategically. - read more

Knowledgebase

Debt Consolidation:
Taking advantage of lower interest rates that may be available by the grouping of multiple loans into one, lower interest rate loan.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.

RBA lifts official interest rate

RBA lifts official interest rate

Share this news item:

Free Loan Eligibility Assessment