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ABC News

Business

business reporters Michael Janda and Stephanie Chalmers

RBA interest rate rise catches markets, banks and borrowers by surprise

RBA

The RBA has raised interest rates for an 11th time since it started lifting them in May last year. (ABC News: Alistair Kroie/John Gunn)

The Reserve Bank of Australia (RBA) has shocked borrowers and financial markets by resuming interest rate rises after a one-off pause last month.

It has lifted its cash rate target from 3.6 to 3.85 per cent, marking the 11th increase in the space of a year.

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The Times of India

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Top stories on inkl right now

Search continues after boat capsizes off Baja California coast. 16 rescued, but others missing

Authorities are searching for 11 people missing after a boat from Mexico capsized off Baja California

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Los Angeles County Confirms First Cychlorphine Overdose Death From a Potent Opioid That Fentanyl Test Strips Miss

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Minnesota measles cases reach 42 as Todd and Fillmore County outbreaks add 23 cases in 21 days, all among unvaccinated people. What families should do.

Medical Daily

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Iranian fishermen hunt for iPhones and perfumes after cargo ship sinks in Hormuz

The Times of India

Mom Of The Teen Behind The Oregon Elementary School Tragedy Breaks Silence, As First Photos Of Him Are Revealed

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