Cash Target Rate Increase
05/07/2022
The Reserve Bank of Australia’s Board today decided to raise the cash target rate from 0.85% to 1.35%. Accordingly, the rate of interest on unpaid legal costs prescribed by s 195 of the Legal Profession Uniform Law (NSW) and r 75 of the Legal Profession Uniform General Rules 2015 (NSW) will be 3.35% from tomorrow (6 July 2022).
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