Australia’s Reserve Bank is expected to raise its cash rate from 4.35% to 4.6%, according to a report in The Guardian ahead of its policy meeting. Such a move would be the fourth increase this year, but a decision has not yet been announced.

The newspaper estimates that a quarter-point increase could add about A$119 to monthly repayments on an average new mortgage. Higher borrowing costs would arrive as households also face expensive fuel, slower spending and reduced purchasing power in the housing market.

Source: The Guardian — read the original report.