Mornington Peninsula & Frankston News

RBA Rate Rise Sparks Concern Across Consumer, Welfare and Business Groups

Graphic showing “RBA Rate Rise” with calculator, home loan document and red upward arrow, referencing the cash rate at 3.85%.

Australia’s cash rate has risen to 3.85 per cent after the Reserve Bank increased rates by 25 basis points. Welfare and consumer advocates warned of deeper financial stress, while CPA Australia and the Somerville Business Group said households and small businesses could face tighter spending and tougher trading conditions.

Read MoreRBA Rate Rise Sparks Concern Across Consumer, Welfare and Business Groups