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Article: Fed: Rate rise reverberates round the suburbs
- Article from:
- AAP General News (Australia)
- Article date:
- August 2, 2006
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AAP General News (Australia)
08-02-2006
Fed: Rate rise reverberates round the suburbs
By David Crawshaw and Crystal Ja
CANBERRA, Aug 2 AAP - Australian families are revising their household budgets after
the Reserve Bank raised official interest rates.
For families already facing high prices for petrol and fruit, today's rate hike means
an extra hit to their budgets - about $35 a month to the average mortgage.
In the most rate-sensitive areas on Sydney's heavily mortgaged outskirts, residents
were taking the year's second rate rise on the chin.
For the Mackie family of Macquarie Fields, movie tickets and takeaway dinners will
be the first to go as they look to cut their spending.
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