Rising prices have been a hot conversation topic both in the news and within our day-to-day lives. The cost of living squeeze is impacting us all—individuals and businesses alike.
For most people, interest rates can be confusing. The Reserve Bank of Australia (RBA) is tasked with the responsibility of setting interest rates. It does this at monthly board meetings by determining the cash rate. The cash rate is the price the big retail banks pay to borrow money in the overnight cash markets.