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Reserve Bank governor Philip Lowe has bumped the cash rate to almost 2 per cent, signalling rising inflation as the main reason for its decision.
As the central bank has ramped up the pace of interest rate rises, economists say it could be having its "desired effect".
A new record has been set in the value of owner-occupier loans being refinanced, according to June figures from the ABS.
The watchdog has utilised its design and distribution obligations powers for the first time, placing interim stop orders on three financial firms.
The property analysis outfit has reported that the current trend for Australian home values mirrors rates observed during the 2008 global financial crisis.