Yesterday the Reserve Bank increased the official cash rate by 25 basis points to 4.1 per cent. It’s the second rate hike in a row - but while last time the decision was unanimous, this time it was much closer, with the board split 5-4.

Diana Mousina, Deputy Chief Economist at AMP, explains what that split means for the next RBA meeting in May, and the key factors that contributed to yesterday's rate hike.