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RBA cash rate for October raised to 2.60%

The Reserve Bank of Australia (RBA) today decided to increase the official cash rate, by 0.25% to 2.60%.

In considering the size of the increase, the RBA board appears to be continuing to focus on reducing inflation against the backdrop of falling house prices in many areas of Australia, a weakening Australian dollar and concerns of a global recession.

If you’d like to have a chat about what today’s news means for you and your finances, please don’t hesitate to get in touch.

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.