The Reserve Bank of Australia has raised the cash rate up by 25 basis points to 3.35 percent.

This is the ninth rate hike in a row, raising Australia's OCR to the highest it's been since 2012.

HSBC Chief Economist Paul Bloxham says this rate hike wasn't a surprise, as several economists had predicted this increase and suspect that this won't be the last.

"To get inflation to come down, we should expect a slowdown in growth, but the RBA's trying really hard not to have to deliver a recession along the way."

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The Reserve Bank of Australia has raised the cash rate up by 25 basis points to 3.35 percent.
This is the ninth rate hike in a row, raising Australia's OCR to the highest it's been since 2012.
HSBC Chief Economist Paul Bloxham says this rate hike wasn't a surprise, as several economists had predicted this increase and suspect that this won't be the last.
"To get inflation to come down, we should expect a slowdown in growth, but the RBA's trying really hard not to have to deliver a recession along the way."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.