RBA increased interest rates for May, 2022 at 0.35 per cent

May 3, 2022 Sphere Loans 0 Opinions Cash Rate, Interest Rates

RBA increased the cash rate at 0.35% at its board meeting for May 2022.

The Reserve Bank announced Australia’s official cash rate at 0.35 per cent. The RBA on Tuesday afternoon announced it would lift Australia’s official cash rate by 25 basis points to 0.35 per cent from 0.1 per cent. It is the first interest rate rise in 11 years.