The Reserve Bank of Australia (RBA) will meet today and early indications are that an interest rate rise is on the cards according to expert economists.

“(The RBA) has indicated that a 0.25 or a 0.5 increase is on the table – we think they’ll probably go with the 0.5 which will bring the cash rate to 1.35 from 0.85,” Dr Shane Oliver, chief economist at AMP said.

“The logic is simply that the economy is currently quite strong with unemployment down and the inflation rate at 5 per cent and still rising.”

How will these rises affect you?