Australia’s Official Cash Rate Could Rise to 4.85 Percent: Economists

Australian dollars are shown in Sydney, Australian, on March 10, 2015. Dominic Lorrimer/Getty Images

Australian borrowers have been hit with 12 interest rate hikes since the Reserve Bank of Australia (RBA) embarked on a monetary tightening policy in May 2022, causing many to fall into mortgage stress.

However, some economists have warned the ordeal is far from over, as they expect the official cash rate to reach as high as 4.85 percent before an end is in sight.