Interest rates are set to rise. Use our loan calculator to check how a rate hike could affect you

The Reserve Bank could raise interest rates again on Tuesday, after lifting rates in February and March.

Financial markets imply there is about a two-thirds chance of a third hike, after soaring fuel prices pushed inflation to its highest rate since 2023.

For someone with an average-sized new mortgage of $736,000, paying a typical rate of 5.7%, a rate increase would add about $117 to their $4,272 monthly repayments.

Use this interest rate calculator to see what you might have to pay.

Whether or not the RBA raises rates on Tuesday, two hikes are expected by December, leaving 2026 with a total of four interest rate increases.