Shepparton households have another financial headache to contend with, with the Reserve Bank of Australia (RBA) lifting the official cash rate by 0.25 percentage points to 4.85 per cent, the fifth increase this year and the highest it’s been in 18 years.
For locals with variable-rate mortgages, the news could mean even tighter household budgets, with more money going towards repayments. First-home buyers may also find getting onto the property ladder a little harder.
It’s not just homeowners feeling the pinch, renters and local businesses are also navigating rising living and operating costs.
The message? Review your budget, shop around for better loan deals and keep a close eye on spending. In the Goulburn Valley, every dollar counts.
