Tuesday 17 May 2022 03:52 AM Reserve Bank of Australia warning of more interest rate rises as inflation soars trends now Reserve Bank in dire warning Aussies will be hit with an even bigger interest rate rise in two WEEKS as inflation soars meaning more cost of living pain Reserve Bank of Australia warns of June rate rise as inflation soars at faster pace By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 03:39 BST, 17 May 2022 | Updated: 03:50 BST, 17 May 2022 Viewcomments Australian home borrowers are expected to be hit with an even bigger interest rate rise in June as inflation soars at an even faster pace than anticipated. The Reserve Bank of Australia in May raised the cash rate for the first time since November 2010 and has released the minutes of that meeting hinting at more pain to come. On Friday the 13th last week, Westpac and ANZ matched the RBA's quarter of a percentage point increase that ended the era of the record-low 0.1 per cent cash rate. NAB is passing on in full that 0.25 percentage point increase to its variable rate customers while the Commonwealth Bank, Australia's biggest home lender will raise in rates on Friday in line with the RBA move. Economists are expecting a bigger-than-expected wage price index number for the March quarter, due out on Wednesday, to spark another 25 basis point rate rise in June at the RBA's next meeting. Australian home borrowers are expected to be hit with an even bigger interest rate rise in June as inflation soars at an even faster pace than anticipated Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility