RBA hikes rates to highest level since 2008 financial crisisIt’s the fifth time rates have risen this year.Breaking4 min read

7NEWS00:00

Mortgage holders are set to be hit with the highest interest rate levels since the global financial crisis (GFC) almost 18 years ago.The Reserve Bank (RBA) on Tuesday announced a hike of 25 basis ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2680716355?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-11-03 00:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2680716355","market":"us","top_or_hot":-1,"title":"RBA hikes rates to highest level since 2008 financial crisisIt’s the fifth time rates have risen this year.Breaking4 min read","media":"7NEWS","content":"<div>\n<p>Mortgage holders are set to be hit with the highest interest rate levels since the global financial crisis (GFC) almost 18 years ago.The Reserve Bank (RBA) on Tuesday announced a hike of 25 basis ...</p>\n\n<a href=\"https://7news.com.au/business/interest-rates/rba-interest-rates-mortgage-holders-take-major-hit-on-melbourne-cup-day-as-cash-rate-lifted-c-23107147\">Source Link</a>\n\n</div>\n","source":"7news_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>RBA hikes rates to highest level since 2008 financial crisisIt’s the fifth time rates have risen this year.Breaking4 min read</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRBA hikes rates to highest level since 2008 financial crisisIt’s the fifth time rates have risen this year.Breaking4 min read\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-11-03 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://7news.com.au/business/interest-rates/rba-interest-rates-mortgage-holders-take-major-hit-on-melbourne-cup-day-as-cash-rate-lifted-c-23107147><strong>7NEWS</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Mortgage holders are set to be hit with the highest interest rate levels since the global financial crisis (GFC) almost 18 years ago.The Reserve Bank (RBA) on Tuesday announced a hike of 25 basis ...</p>\n\n<a href=\"https://7news.com.au/business/interest-rates/rba-interest-rates-mortgage-holders-take-major-hit-on-melbourne-cup-day-as-cash-rate-lifted-c-23107147\">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":"ARP","symbol_name":"PMV ADAPTIVE RISK PARITY ETF","start_time":0,"source_url":"https://7news.com.au/business/interest-rates/rba-interest-rates-mortgage-holders-take-major-hit-on-melbourne-cup-day-as-cash-rate-lifted-c-23107147","article_id":"2680716355","we_media_id":null,"thumbnails":[],"rights":{"source":"7news_stock","url":"https://7news.com.au/business/interest-rates/rba-interest-rates-mortgage-holders-take-major-hit-on-melbourne-cup-day-as-cash-rate-lifted-c-23107147","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2680716355","pubTimestamp":1793635200,"columns":[],"sourceInfo":{"source_id":"7news_stock","name":"7NEWS"},"weMediaInfo":null,"summary":"Mortgage holders are set to be hit with the highest interest rate levels since the global financial crisis (GFC) almost 18 years ago.The Reserve Bank (RBA) on Tuesday announced a hike of 25 basis poin","collect":0,"end_time":0,"defaultTopTitle":"7news.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"ARP":"PMV ADAPTIVE RISK PARITY ETF","LGH":"HCM Defender 500 Index ETF","EQRR":"ProShares Equities for Rising Rates ETF","CLIX":"ProShares Long Online/Short Stores ETF","BSR":"Beacon Unified Catalyst ETF","IUS":"Invesco RAFI Strategic US ETF","CGUI":"Capital Group Ultra Short Income ETF","MODL":"VictoryShares WestEnd US Sector ETF","CGDV":"Capital Group Dividend Value ETF","CDC":"VictoryShares US EQ Income Enhanced Volatility Wtd ETF","ESLV":"Eventide Large Cap Value ETF","FXD":"First Trust Consumer Discretiona","CGUS":"Capital Group Core Equity ETF","CPI":"IQ Real Return ETF","ILCV":"iShares Morningstar Value ETF","BKDV":"BNY MELLON DYNAMIC VALUE ETF","XOEX":"Xtrackers S&P 100 Ex Top 20 ETF","DECU":"AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF","AGGZ":"Twin Oak Enhanced Fixed Income ETF","RBA":"里奇兄弟拍卖","REMC":"COLUMBIA RESEARCH ENHANCED MID CAP ETF","MDLV":"MORGAN DEMPSEY LARGE CAP VALUE ETF","RHTX":"RH TACTICAL OUTLOOK ETF","FLV":"American Century Focused Large Cap Value ETF","TEQI":"T. Rowe Price Equity Income ETF","EES":"WisdomTree U.S. SmallCap Fund","SAMT":"Strategas Macro Thematic Opportunities ETF","FT":"富兰克林通用信托","SPCT":"Liberty One Spectrum ETF","PLGI":"PL Growth and Income ETF","FLXI":"Invesco Flexible Income ETF","ADPV":"ADAPTIV SELECT ETF","IMCG":"iShares Morningstar Mid-Cap Growth ETF","SDOG":"ALPS Sector Dividend Dogs ETF","PSC":"Principal U.S. Small-Cap Multi-Factor ETF","DIVZ":"TrueShares Low Volatility Equity Income ETF","RULE":"Adaptive Core ETF","MAPP":"Harbor Multi Asset Explorers ETF","BAMA":"Brookstone Active ETF","TCTL":"Premise Capital Diversified Tactical ETF","FITZ":"Fitz-Gerald Must Have Portfolio ETF","VOTE":"TCW Transform 500 ETF","LCG":"Sterling Capital Focus Equity ETF","DFUV":"DIMENSIONAL US MARKETWIDE VALUE ETF","REGL":"ProShares S&P MidCap 400 Dividend Aristocrats ETF","VTV":"Vanguard Value ETF","RMIF":"LHA Risk-Managed Income ETF","HIDV":"AB US HIGH DIVIDEND ETF","PRVS":"Parnassus Value Select ETF","VXZ":"中期波动率指数期货ETN"},"translate_title":"澳大利亚储备银行将利率上调至2008年金融危机以来的最高水平，这是今年第五次加息。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VXZ":0.9,"REMC":0.9,"CLIX":0.9,"BKDV":0.9,"ILCV":0.9,"HIDV":0.9,"ESLV":0.9,"LGH":0.9,"PLGI":0.9,"REGL":0.9,"DECU":0.9,"AGGZ":0.9,"MDLV":0.9,"VTV":0.9,"DIVZ":0.9,"LCG":0.9,"TEQI":0.9,"BAMA":0.9,"CGUS":0.9,"EES":0.9,"FLXI":0.9,"BSR":0.9,"MAPP":0.9,"RBA":1,"RHTX":0.9,"TCTL":0.9,"SAMT":0.9,"DFUV":0.9,"PRVS":0.9,"FITZ":0.9,"RULE":0.9,"ADPV":0.9,"RMIF":0.9,"VOTE":0.9,"IMCG":0.9,"ARP":0.9,"CGDV":0.9,"SDOG":0.9,"XOEX":0.9,"FLV":0.9,"EQRR":0.9,"FXD":0.9,"FT":0.9,"IUS":0.9,"PSC":0.9,"CGUI":0.9,"CPI":1,"SPCT":0.9,"MODL":0.9,"CDC":0.9},"content_text":"Mortgage holders are set to be hit with the highest interest rate levels since the global financial crisis (GFC) almost 18 years ago.The Reserve Bank (RBA) on Tuesday announced a hike of 25 basis points from 4.6 per cent to 4.85 per cent, the highest level since November 2008. It’s the fifth rate rise in 2026 as the RBA tried to bring inflation down from above 4 per cent and into the target range of 2-3 per cent.Know the news with the 7NEWS app: Download today ArrowIt comes despite the RBA announcing the Consumer Price Index (CPI) had reduced by 1.3 per cent in the month prior, having risen by 0.9 per cent in September.“Inflation remains elevated and recent data indicate that it is broadly based,” the RBA said.“The inflation outlook has also been revised materially higher in the updated staff forecasts. “This partly reflects higher fuel and other commodity prices affected by the conflict in the Middle East. But domestic capacity pressures are also judged to have been a little tighter than earlier thought.”The RBA confirmed the decision to increase the cash rate was not unanimous, with three members voting to leave the rate unchanged at 4.6 per cent.“The Board is conscious of the period in which inflation has been too high,” the statement continued.“Given the revised inflation outlook and the continuing upside risks, the Board judged that a further tightening in financial conditions is warranted to support the return of inflation to target.Be the first to know: Add 7NEWS as your preferred news source on Google“The Board will continue to do what it considers necessary to bring inflation sustainably back to target. Accordingly, the Board will be attentive to the data and the evolving assessment of the outlook and risks to guide its decision”While the cash rate is at the highest level since banks and financial services collapsed in late 2007, homeowners will be hit harder because of the larger amounts they’ve borrowed.Macquarie Bank announced it would be increasing variable home loan reference rates and interest rates on transaction and savings accounts from November 19.“With household budgets already feeling the strain, today’s decision by the RBA will be challenging for many Australians,” head of personal banking Ben Perham said. “To help our variable home loan customers prepare, we’re again waiting more than two weeks before this latest increase takes effect. “At the same time, our transaction and savings account customers will see their variable rates increase, with no monthly fees or complex ‘hoops or catches’ to navigate.”‘Call out’ price increases over inflationCompare the Market Economic Director David Koch said the increase would be costing the average homeowner $6450 more annually compared to a year ago.“That’s after tax, so you’re going to have to be earning an extra $9000 to $10000 a year,” Koch told Sunrise.“Five interest rate increases and it has failed to bring down inflation. “Monetary policy has failed and Australian households are quite rightly going: ‘hey, we’re doing it tough’.”Koch urged Australians to “call out” anyone raising their prices above the levels of inflation and contributing to further pressure on the RBA.“I feel the frustration of Australian households, but we’ve just got to start calling it out,” he said.“Your local business puts up prices more than 3 per cent, go, ‘hey, that’s more than inflation’. “That’s the reason my interest rates are going up, because everyone is just accepting it and getting away with it.”Realestate.com.au Senior Economist Angus Moore also noted the ongoing impact on Australian households.“Higher mortgage costs will continue to weigh on household spending and work to slow economic growth, although a reasonably resilient labour market and growing incomes continue to provide an important buffer,” he said.“For the housing market, another rate rise will lengthen the downturn already underway. Home prices nationally have declined for seven straight months, and are down 4.3 per cent from peak. “Further increases in mortgage rates will reduce borrowing capacities again for prospective buyers, adding to the downward pressure on home prices.”No relief until late 2027Economists have warned homeowners not to get their hopes up for a rate reduction any time soon, with AMP chief economist Shane Oliver predicting relief coming in the December quarter of 2027 at the earliest.“Absent a crisis, rate relief is a long way off,” he said in a client note.Because of Australia’s weak productivity growth, the RBA had no choice but to throw the economy into a hard landing or even a recession to bring inflation to heel, said HSBC chief economist Paul Bloxham.“Reluctantly, but necessarily, the RBA is likely to deliver a fifth hike this week — driving the economy into more of an economic downswing,” Bloxham said.Kochie’s blunt message to Aussies ahead of another likely rate rise2 min readCup Day live: Robbie rocks Flemington, Waller fined after contender scratched","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":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; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.1","shortVersion":"4.52.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2680716355","isCrawlerRequest":true}