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The Guardian - AU

National

Kris Swales

Afternoon Update: RBA hikes cash rate for second straight month; Trump seeks to delay China summit amid Iran war; and the 6.30pm rule

Donald Trump RBA Iran China Reserve Bank

A housing development in San Remo, Victoria. Household budgets will face higher mortgage costs due to a rise in the cash rate. Photograph: Joel Carrett/AAP

Good afternoon.

The Reserve Bank board has lifted its cash rate target from 3.85% to 4.1% in a split decision that leaves the door open to further hikes.

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