Australia's RBA raises cash rate to 4.6% highest since 2011
Business
Australia's central bank just bumped its cash rate to 4.6%, the highest since 2011 and the fourth hike this year.
If you've got a mortgage, this means bigger repayments ahead.
The move comes as new inflation numbers are about to drop, with prices still rising faster than the RBA's target.
Bullock warns inflation, markets expect hikes
RBA Governor Michele Bullock says stubborn inflation could push up both prices and wages even more.
Treasurer Jim Chalmers points to global oil prices, especially with tensions between the US and Iran, as a big reason for rising costs.
Markets are already expecting a further hike by February and more than a 50% chance of another by mid-2027.