The Reserve Bank has increased the official cash rate by 0.25% at its May meeting.
EY Oceania Chief Economist Cherelle Murphy tells Sean Aylmer why the RBA had no option but to increase rates, and what it means for businesses and homeowners.

Iran conflict widens as oil surges; profit season ends on a high; Survivor’s 50th season
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Q+A: The gender pay gap is narrowing, but it's still too wide
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Afternoon Report | Iran conflict sends oil prices higher
03:30