Reserve Bank Governor Philip Lowe has announced he will lift the cash rate for the first time in a decade, by 0.25 percentage points, taking it from 0.10% to 0.35%.
Most market economists thought the bank would raise rates, but they were divided as to whether the bank would start small by lifting rates from 0.10% to 0.25%, or jump all the way to 0.50%.
The bank seems to have been similarly torn, and come in halfway between.
