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Reserve Bank

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Mortgages hit after another big rate hike

The Reserve Bank has today raised the cash rate by 0.5 per cent to 1.35 per cent – the third consecutive monthly increase and with more expected to follow as it tries to rein in ballooning inflation.

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'Tough day': Mortgage holders brace for rate hike

The Reserve Bank is today widely expected to increase the cash rate by another 50 points, which will likely result in another $137 a month being added to repayments on a $500,000 mortgage – with a further rate hike anticipated next month.

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Business warns of economic 'death spiral'

A major business group fears the economy could be entering a “death spiral” of rising wages growth, inflation and interest rates following the Reserve Bank’s biggest cash rate hike in more than 20 years.