Cash Rate Increases to 0.35%
On Tuesday 3rd May, for the first time since November 2010 – the Reserve Bank of Australia (RBA) increased the cash rate by 25 basis points, from 0.10% to 0.35%. Following the biggest 12-month property price jump ever recorded, and an inflation growth of 3.7% over the past year to March; the raise is expected to help curb inflation, with all 4 of Australia’s major banks confirming the rate …