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Minutes from the RBA’s May meeting, released on Tuesday, flagged further rate rises over coming years, with inflation not expected to hit the top end of the board’s target band by mid-2025 at the earliest.
Source: https://www.perthnow.com.au/news/how-to-avoid-mortgage-prison-as-interest-rates-skyrocket-c-10713464
New data shows prices rose 6.8 per cent for the year to April, well outside of the RBA’s target band of two to three per cent.