There's been a shock move - and it's not Gillian on the dancefloor. The Reserve Bank Board decided to lift rates at its May meeting despite many an economist forecasting a pause. So what's going on - this episode we explain the thinking from the RBA and the impact of the rate hike. Plus, the other big economic 'thing' on the horizon - the Federal Budget. What can we expect and what are economists looking for. Superannuation changes, welfare support and the petroleum resource rent tax (PRRT)* are among some of the measures under the spotlight. Manager Economics, Impact Economics Emma Grey and Barrenjoey Senior Economist Johnathan McMenamin join Gillian to explain.

*This episode was recorded, just ahead of the announcement by the Government confirming its changes to the PRRT.