Today, the Reserve Bank of Australia will deliver its final cash rate decision for 2022, with at least one more hike expected to be delivered.
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Another 25 basis point increase will take the rate to 3.1 per cent and cause more pain for mortgage holders with variable loans.
The decision will be announced at 2:30pm AEDT on Tuesday.
Follow the rates announcement live here:
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A Finder survey of 40 experts and economists found almost 90 per cent expect a 0.25 percentage point lift but opinions vary on the bank's monetary policy trajectory in the new year.
For those struggling to make ends meet, another rise will push budgets and raise concerns of mortgage defaults.
Some economists are predicting this could be the last rate rise with others saying more are on the cards in early 2023.
- with Australian Associated Press
Kim Chappell
As Senior Producer - Digital for ACM's regional titles I assist newsrooms in digital best practice. Before this role, I was the digital journalist with ACM's national team and prior to that, the digital specialist with ACM's Agricultural division. I started as a general rounds journalist with The Land in 2006, moving up to hold the title of chief of staff before switching to digital reporting in 2015.
As Senior Producer - Digital for ACM's regional titles I assist newsrooms in digital best practice. Before this role, I was the digital journalist with ACM's national team and prior to that, the digital specialist with ACM's Agricultural division. I started as a general rounds journalist with The Land in 2006, moving up to hold the title of chief of staff before switching to digital reporting in 2015.
