BREAKING: RBA lifts interest rates

BREAKING: RBA Lifts Interest Rates

Mark Stevenson, Managing Director of Evolve Lending and Finance, was quoted in The Western Weekender in March 2026 following the Reserve Bank’s decision to lift the cash rate by 0.25 per cent for the second time this year, bringing the official rate to 4.10 per cent.

Mark noted that a number of factors would have gone into the RBA’s decision. Inflation remains above the target range and while it does not appear to be running away, the significant increase in fuel prices driven by the Middle East conflict and its broader impact on consumers will be of concern to the central bank. The increase is an immediate financial hit for households already dealing with rising petrol prices and higher electricity bills, adding around $160 per month to a one million dollar loan or approximately $118 per month to the average mortgage of $736,000. Compared to January, before the RBA began lifting the cash rate this year, the average borrower will be paying $2,805 more annually.

Graham Cooke, Head of Consumer Research at Finder, described the decision as a tough blow at a time when Australian families are already feeling the pinch from a volatile global market, warning that between rising fuel costs and higher mortgage repayments, financial safety nets could be pushed to breaking point.

Lenders are expected to pass on the increase quickly. If rising rates are putting pressure on your mortgage, contact Evolve Lending & Finance to explore what options may be available to you.