The recent interest rate increase by the Reserve Bank of Australia has led some Sydney residents to question the decision.
Many Sydney residents are wondering why the
interest rate has been hiked up again by the Reserve Bank of Australia (RBA), according to one writer.
The Blackdown Sun's Phillip O'Neill said credit card debt has now become more expensive and it is pricier to use
Aussie credit to purchase home wares and cars due to the latest rise from four to 4.25 per cent.
But he is concerned about where the Australian economy is heading at the moment.
"The Reserve Bank seems to be guessing that a boom is around the corner, so a jab on the economic brakes via another interest rate rise seems to the Reserve Bank to be a good idea," Mr O'Neill added.
RBA governor Glen Stevens announced the increase earlier this week and said that most borrowers have a lower than average interest rate, stating rates should be "closer than average" as one reason for the rise.
By Emma North
