Car Loans Australia :: News
SHARE

Share this news item!

RBA lifts official interest rate

RBA lifts official interest rate

RBA lifts official interest rate?w=400
The Reserve Bank of Australia lifted the official cash rate by 25 basis points at its meeting Today.

The RBA board decided to increase the rate from a record low of 0.1%, to 0.35% and the interest rate on exchange settlement balances was lifted 25 percent to 0.25%.

The board judged that now was the right time to begin withdrawing some of the extraordinary monetary support provided to help the Australian economy through the pandemic.

The resilience of the Australian economy is particularly evident in the labour market, with unemployment declining over recent months to 4%, according to RBA Governor Philip Lowe.

“Both job vacancies and job ads are also at high levels,” he said.

“The central forecast is for the unemployment rate to decline to around 3.5% by early 2023.”

Lowe went on to say that inflation was significantly higher than expected a year ago, although it remained lower than in most other advanced economies.

Published:Tuesday, 3rd May 2022
Source: Paige Estritori

Share this news item:

Finance News

ASIC Initiates Comprehensive Review of Motor Vehicle Finance Practices
ASIC Initiates Comprehensive Review of Motor Vehicle Finance Practices
08 Oct 2025: Paige Estritori
The Australian Securities and Investments Commission (ASIC) has commenced a thorough review of the motor vehicle finance sector, aiming to bolster consumer protections and ensure industry-wide compliance. This initiative is particularly focused on the experiences of borrowers in regional and remote areas, including First Nations communities. - read more
Macquarie Transfers $1.5 Billion Car Loan Portfolio to Allied Credit
Macquarie Transfers $1.5 Billion Car Loan Portfolio to Allied Credit
08 Oct 2025: Paige Estritori
In a significant development within the Australian financial sector, Macquarie Group's Banking and Financial Services division has agreed to sell a substantial portion of its car loan portfolio, valued at $1.5 billion, to Allied Credit. This transaction involves over 50,000 car loans and is expected to be finalised by the fourth quarter of 2025. - read more
Bank Australia Ends Financing for New Petrol, Diesel, and Hybrid Vehicles
Bank Australia Ends Financing for New Petrol, Diesel, and Hybrid Vehicles
08 Oct 2025: Paige Estritori
In a bold move towards environmental sustainability, Bank Australia has ceased offering loans for new petrol, diesel, and hybrid vehicles as of February 2025. This policy change is part of the bank's commitment to achieving net-zero carbon emissions by 2035. - read more
RBA Maintains Cash Rate at 3.60% Amid Inflationary Pressures
RBA Maintains Cash Rate at 3.60% Amid Inflationary Pressures
30 Sep 2025: Paige Estritori
The Reserve Bank of Australia (RBA) has decided to keep the cash rate steady at 3.60% during its latest policy meeting on September 30, 2025. This decision comes despite recent signs of accelerating inflation and a persistently tight labor market. - read more
ANZ Bank Settles Class Actions Totaling $68 Million Over Car Loan and Superannuation Practices
ANZ Bank Settles Class Actions Totaling $68 Million Over Car Loan and Superannuation Practices
30 Sep 2025: Paige Estritori
In a significant development, ANZ Bank has agreed to pay A$99 million (approximately $68 million USD) to settle two class actions dating back to 2020. These settlements address allegations concerning the bank's car loan practices and superannuation product fees. - read more
Time to Refinance?
Image for Time to Refinance?If you are seeking lower rates, lower fees and more flexibility in your home loan. you are in luck! Our national panel of mortgage brokers is looking forward to an opportunity to assist you. Apply online for a free eligibility assessment and one of our broker network refinance specialists will get on the case to track down the best deal for your individual circumstances. Without any obligation and at no charge to you!


Car Loans Articles

Avoiding Financial Pitfalls: Tips for First-Time Car Buyers in Australia
Avoiding Financial Pitfalls: Tips for First-Time Car Buyers in Australia
Before taking the plunge into car ownership, it's crucial to have a clear view of your current financial health. Start by evaluating your income, monthly expenses, and any savings you may have set aside. This assessment will give you a realistic picture of how much you can allocate towards buying a car without straining your finances. - read more
Car Loans: Secured vs Unsecured
Car Loans: Secured vs Unsecured
Car loans play a pivotal role in empowering individuals to afford their own vehicle, which can be a significant purchase. These loans, structured to fit within one's financial situation, can ease the burden of acquiring a car and assist in achieving personal convenience and mobility. - read more
The Complete Checklist for Choosing a Car Loan Provider in Australia
The Complete Checklist for Choosing a Car Loan Provider in Australia
Finding the right car loan in Australia can be just as critical as selecting the car itself. Car finance, though a common undertaking, involves nuanced decisions that can have a significant impact on your financial future. - read more
How to Create a Flexible Budget for Your Next Car Purchase
How to Create a Flexible Budget for Your Next Car Purchase
When it comes to buying a car, particularly a used one, having a flexible budget is essential. Flexible budgeting allows you to adjust your spending plan according to your current financial situation and any unexpected changes that might occur. This adaptability is crucial in managing your finances effectively and ensuring you make a purchase that won't strain your resources. - read more
Understanding Car Loan Refinancing in Australia: When Is It the Right Move?
Understanding Car Loan Refinancing in Australia: When Is It the Right Move?
Car loan refinancing involves replacing an existing car loan with a new one, usually to lower the interest rate, reduce monthly payments, or modify the loan term. In Australia's fluctuating economic landscape, refinancing can be a strategic financial decision for borrowers looking to adjust their finances to more favorable terms. - read more


Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.
Loan Amount:
Postcode:
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Credit Score:
A numerical expression based on a level analysis of a person's credit files, representing the creditworthiness of an individual.