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RBA's cash rate increase a 'big hit' to mortgages

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Published on 08/02/22 / In Finance & Living

The Reserve Bank's 50 basis point lift to the cash rate is a "big hit" to those with mortgages, Centre for Independent Studies' Simon Cowan says.

"We've now seen 1.75 per cent over four meetings – which is just three months – we're expecting that obviously to go straight through into mortgage rates again," Mr Cowan told Sky News host Chris Kenny.

"That's going to be hundreds and hundreds of dollars a month for those who've taken out a mortgage."

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