Millions bracing for mortgage pain as RBA hikes ratesThe first cash rate hike since November 2023 is set to stretch household budgets. Here is how much extra you will pay.1 min read

7NEWS02-03 00:00

Millions of Australian households will be reassessing their budgets after the Reserve Bank delivered its first cash rate hike since November 2023 and warned the inflation dragon may not be tamed for “...

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Here is how much extra you will pay.1 min read\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-03 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://7news.com.au/news/reserve-bank-hikes-official-cash-rate-to-385-per-cent-with-australian-household-bracing-for-mortgage-pain-c-21513328><strong>7NEWS</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Millions of Australian households will be reassessing their budgets after the Reserve Bank delivered its first cash rate hike since November 2023 and warned the inflation dragon may not be tamed for “...</p>\n\n<a href=\"https://7news.com.au/news/reserve-bank-hikes-official-cash-rate-to-385-per-cent-with-australian-household-bracing-for-mortgage-pain-c-21513328\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPI","symbol_name":"IQ Real Return ETF","start_time":0,"source_url":"https://7news.com.au/news/reserve-bank-hikes-official-cash-rate-to-385-per-cent-with-australian-household-bracing-for-mortgage-pain-c-21513328","article_id":"2608171843","we_media_id":null,"thumbnails":[],"rights":{"source":"7news_stock","url":"https://7news.com.au/news/reserve-bank-hikes-official-cash-rate-to-385-per-cent-with-australian-household-bracing-for-mortgage-pain-c-21513328","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2608171843","pubTimestamp":1770048000,"columns":[],"sourceInfo":{"source_id":"7news_stock","name":"7NEWS"},"weMediaInfo":null,"summary":"Millions of Australian households will be reassessing their budgets after the Reserve Bank delivered its first cash rate hike since November 2023 and warned the inflation dragon may not be tamed for “","collect":0,"end_time":0,"defaultTopTitle":"7news.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"CPI":"IQ Real Return ETF"},"translate_title":"随着澳大利亚央行加息，数百万人将面临抵押贷款痛苦自2023年11月以来的首次现金加息将使家庭预算捉襟见肘。以下是您需要支付的额外费用。1分钟阅读","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPI":1},"content_text":"Millions of Australian households will be reassessing their budgets after the Reserve Bank delivered its first cash rate hike since November 2023 and warned the inflation dragon may not be tamed for “some time”.As tipped by the big banks and most experts following recent inflation data, the RBA lifted the official cash rate 25 basis points from 3.6 per cent to 3.85 per cent on Tuesday.“The board judged that inflation is likely to remain above target for some time and it was appropriate to increase the cash rate target,” the board said in its announcement..Know the news with the 7NEWS app: Download today ArrowIt reportedly makes the RBA the first central bank in the world to raise rates following a post-pandemic cutting cycle.Should banks pass on the hike, an owner-occupier with a $600,000 mortgage will pay an extra $90 every month.The RBA trimmed the cash rate three times in 2025 — February, May and August — but stubborn inflation doused hopes of a fourth cut before the year was out, with a unanimous decision to hold the cash rate in December.New data last week — showing the Consumer Price Index (CPI) rising 3.8 per cent in the year to December, and underlying inflation, which strips out volatile items, up 3.3 per cent in the same period — appeared to cement Tuesday’s hike.Both were outside the RBA’s target band of 2-3 per cent.Announcing its decision on Tuesday, the RBA warned inflation “is likely to remain above target for some time”.“While inflation has fallen substantially since its peak in 2022, it picked up materially in the second half of 2025,” the board said.“The board has been closely monitoring the economy and judges that some of the increase in inflation reflects greater capacity pressures.“As a result, the board considers that inflation is likely to remain above target for some time.”- More to come . . .Devastating CCTV captures grandma dying alone in hospital hallway2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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