Reserve Bank hikes interest rates to 15-year high amid warning country is barreling towards 'human disaster' and mass layoffs

Mortgage holders are set to fork out hundreds more each month after the RBA delivered its fourth rate hike of the year, pushing interest rates to their highest level in almost 15 years.

Mortgage holders are set to fork out hundreds more each month after the RBA delivered its fourth rate hike of the year, pushing interest rates to their highest level in almost 15 years.