Reserve Bank kicks off rate rises with 25-basis-point move, more likely to come | ABC News

The Reserve Bank has increased interest rates for the first time in more than 11 years, with a 25-basis-point hike taking the cash rate target to 0.35 per cent. Subscribe: http://ab.co/1svxLVE Read more here: https://ab.co/3KDbuUk

If passed on in full by banks, the rate rise will add $65 a month to repayments on a $500,000 mortgage, and double that on a million-dollar loan.
Markets are pricing in the virtual certainty of another rise in June, taking the cash rate target to 0.5 per cent. Here’s Peter Ryan, Ian Verrender and Felicity Emmett on the change.

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