After a lot of bullshit, the Reserve Bank of Australia has finally increased the interest rate from 0.1% to 0.35%.
What this means for mortgages?
Nothing much. The average home owner with a $600,000 debt and 25 years remaining on their mortgage will see their repayments rise by around $74.
What this means for AUDUSD?
As with all interest rate increases, the AUDUSD currency pair will go up due to a stronger Australian dollar.
