Last Wednesday the RBA lifted the rate that they offer 28-day loans to banks from 0.10% to 0.12%.
The RBA hasn’t changed its rate since November 3 2020, when it dropped the cash rate to its current level of 0.10%.
This follows from the first increase in the rate that banks lend to each other (interbank cash rate) which rose from 0.05% to 0.09% on Friday.
Suggests that RBA may be considering raising interest rates by a small margin. The next time the RBA meets is tomorrow and this Friday.
Callum Foote was a reporter for Michael West Media for four years.