Homeowners warned to expect at least two further rate hikes as repayments soar

Cash rate predicted to rise again in August as the RBA attempts to bring down rising inflation

• Satyajit Das: Higher interest rates may not slow inflation, and central banks are partly to blame

Homeowners have been warned to brace for a double whammy of interest rate rises on Tuesday and again in August, with total monthly repayments expected to be driven at least $333 higher on the latest predictions.

Markets and economists are tipping a 50 basis point increase when the Reserve Bank meets on Tuesday, lifting the official cash rate from 0.85% to 1.35%, with further rises expected throughout 2022.

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