THE Reserve Bank board has shocked the nation and resumed hiking interest rates, again deciding that inflation remained too high to...

Financial markets had factored in a near 100% chance of another hold after a pause in April that followed 10 consecutive hikes...

In a statement, RBA governor Philip Lowe said inflation in Australia has passed its peak – it came back down to 7% in the March quarter from 7.8% in...

“And if high inflation were to become entrenched in people’s expectations, it would be very costly to reduce later, involving even...

“Given the importance of returning inflation to target within a reasonable timeframe, the board judged that a further increase in...

“Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, ...

AMP Capital chief economist Shane Oliver said the decision to hike rates again still leaves the RBA “more cautious in raising rates than other...

Lowe said the board held interest rates steady last month to “provide additional time to assess the state of the economy and the outlook”...

The latest move would add nearly another $78 a month to repayments on a $500,000 mortgage, according to RateCity, and...

“By reverting back to a rate hike, the RBA is hammering home the message it is prepared to do what it takes to rein in inflation,”...

“After a month’s reprieve borrowers were still catching up to the rate hikes rather than catching their breath. To have another one piled on...

Treasurer Jim Chalmers said, “This is a really difficult decision for a lot of Australians who are already under the pump,”...

ANZ reverted its forecast for the peak of the cycle back to 4.1%, expecting a 25 basis point rise in August, given its “concerns about the...

The hike comes a fortnight after an independent review concluded that the RBA board should no longer set interest rates.