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Poppy Johnston

RBA hikes interest rates 25 basis points

The Reserve Bank of Australia has hiked rates by 25 basis points on Melbourne Cup day. (Bianca De Marchi/AAP PHOTOS) (AAP)

The central bank has pulled the trigger on another 25 basis point rate rise and upgraded its peak inflation forecasts off the back of a surprise surge in the cost of living.

The seventh hike in the Reserve Bank of Australia's policy tightening cycle brings the official cash rate to 2.85 per cent.

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5,50,000 on streets: How cost-of-living anger is sweeping Europe

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France’s worst protests in years saw buildings set ablaze across the country and record numbers of people arrested

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5,50,000 on streets: How cost-of-living anger is sweeping Europe

5,50,000 on streets: How cost-of-living anger is sweeping Europe

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