No mortgage? Here's why you should still pay attention to interest rate rises

No mortgage? Here's why you should still pay attention to interest rate rises

No mortgage? Here's why you should still pay attention to interest rate risesBy Velvet Winter This week, in a further attempt to curb rising inflation, the Reserve Bank of Australia (RBA) raised the country's cash rate for the fourth month in a row. With the cash rate now at 1.85 per cent, those who took out low-interest loans during the last two years are facing the potential of hundreds of extra dollars each mortgage payment. But for those who don't have a mortgage, the concern around rising interest rates might be confusing. What is the cash rate and why is it going up? Know how your iceberg lettuce is costing …
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