Good afternoon – it’s been a busy day so far. As predicted, the Reserve Bank has delivered a third straight interest rate hike as it seeks to head off the inflationary threat from higher fuel prices linked to the ongoing US-Israel war on Iran.
The decision to lift the cash rate to 4.35% from 4.1% comes as the central bank revealed a gloomy new set of forecasts that showed intensifying cost-of-living pressures alongside weaker growth.
