Afternoon Update: RBA attacked over rate rise; Snowy Hydro 2.0 blowout; and Nick Cave finds inner royal

Reserve Bank of Australia governor, Philip Lowe, says the rebounding housing market was a factor in the decision to raise the cash rate. Photograph: Matt Jelonek/AAP

Good afternoon. After the Reserve Bank hiked the cash rate once again, plenty of people have had something to say. The bank’s governor, Philip Lowe, says the rebounding property market was among the reasons behind the decision to lift the cash rate to an 11-year high of 3.85%.

The Greens leader, Adam Bandt, isn’t happy about it and wants the Albanese government to step in and reverse the RBA’s decision. Our regular columnist, Greg Jericho warns the RBA board is completely “lost to logic” and says we should be “thankful” the decision to change rates will be taken out of its hands.