The Reserve Bank has lifted rates for the fifth consecutive month to a seven-year high of 2.35 per cent.

It’s the first time the RBA has lifted the cash rate five times in a row, and follows historically low interest rates of just 0.1 per cent in May.

The rise will add an extra $242 a month to mortgage repayments for people with an $800,000 mortgage.

But the RBA is warning there'll be more to come.

Today on Please Explain, senior economics correspondent Shane Wright joins Bianca Hall to discuss the cost of living pressures coming our way.

The Reserve Bank has lifted rates for the fifth consecutive month to a seven-year high of 2.35 per cent.
It’s the first time the RBA has lifted the cash rate five times in a row, and follows historically low interest rates of just 0.1 per cent in May.
The rise will add an extra $242 a month to mortgage repayments for people with an $800,000 mortgage.
But the RBA is warning there'll be more to come.
Today on Please Explain, senior economics correspondent Shane Wright joins Bianca Hall to discuss the cost of living pressures coming our way.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

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