
Australia: The central bank will increase the interest rate to 4.6%, the highest since 2011
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French · A2 Elementary
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The Reserve Bank of Australia wants to increase its interest rate soon.
The rate could go from 4.35% to 4.6% this Tuesday.
This will be the highest level for the bank since the year 2011.
This decision will change the budget of many Australian families.
Monthly payments for houses will increase by more than 100 dollars.
Interest rates for home loans could reach 6.5%.
Higher rates often make house prices go down.
The bank board meets on Monday and Tuesday to discuss.
This is the fourth increase of the rate for the year 2026.
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