Australian borrowers have been hit with a ninth cash rate rise in a row, putting more pressure on squeezed mortgage holders as the Reserve Bank tries to stem inflation.
The RBA lifted the official cash rate 25 basis points to 3.35 per cent and the bank's board said it expected further increases in interest rates would be needed in the months ahead to return inflation to its target.
Inflation is sitting at 7.8 per cent - the highest it has been since 1990 - and the central bank is aiming to get it back to a band of two to three per cent.
