RBA Rate Hike Highlights Record Lows: The Reserve Bank of Australia

The Reserve Bank of Australia raised its cash rate to 4.6%, the highest level since 2011, adding more than $100 to typical monthly mortgage repayments. Meanwhile, the U.S. Strategic Petroleum Reserve fell to its lowest level since 1982.

🐿️ Australian borrowers face mounting mortgage pain just as America's emergency oil buffer shrinks, leaving both economies with less cushion against future shocks.