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As expected, RBA cash rate for September increased to 2.35%

As widely expected, the Reserve Bank of Australia (RBA) today increased the official cash rate by 0.50% to 2.35%.

This brings the total of increases made since May to 2.25% as the RBA continues to battle a very stubborn inflation foe. In making this latest increase our central bank will have had a close eye on the spiraling cost of living and falling house prices, however has made its intentions to prioritise controlling inflation very clear.

Lenders can set interest rates independently of RBA movements, and their responses to this official cash rate hike may vary. I deal with multiple lenders every day, so I know just how flexible they can be to keep or win your business. It never hurts to ask the question, so get in touch to review your options.

Find out what recent interest rate rises may mean for you

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Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.