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The Reserve Bank of Australia increased the cash rate to 4.85% today. We understand our members pay close attention to RBA cash rate changes and how they may affect their finances. Our team is currently reviewing what this decision means for our products and will provide an update as soon as possible. Members affected by any changes will be contacted directly.
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A loan where the borrower is only required to pay interest on the amount borrowed during a specified period; the borrower must still repay the full balance outstanding under the mortgage at the end of the term