The RBA hiked interest rates again on Tuesday. Now experts have warned the pain will continue to worsen for many months.
After the Reserve Bank of Australia (RBA) announced its third consecutive interest rate rise, expert economists say Aussies are in for many more months of financial pain.
The RBA announced on Tuesday that it was increasing rates by 50 basis points, taking them from 0.85% to a new high of 1.35%.
Dr Shane Oliver, chief economist at AMP, said Australians can expect the interest rate to continue rising for the rest of the year, though not at such a dramatic rate.
“The…
