RBA Hikes Interest Rates to 15-Year High, Warns Borrowers of More Pain Ahead

Cash-strapped borrowers are facing more pain as interest rates have hit a 15-year high, according to the Reserve Bank of Australia.

The latest hike has sparked warnings from analysts that further increases may be on the way.

Divided opinions exist among experts regarding whether the board will again raise interest rates. The Reserve Bank's decision comes after it lifted interest rates to a 15-year high, causing concerns for borrowers who are already struggling with debt.