RBA interest rates: governor Michele Bullock explains decision to lift cash rate to 4.85%
The Reserve Bank of Australia has hiked interest rates for the fifth time this year, from 4.6% to 4.85%, in a bid to regain control of surging inflation amid the ongoing global oil shock triggered by the war in the Middle East. Subscribe to Guardian Australia on YouTube and hit the bell to see new videos ► http://bit.ly/gdnaustraliasubs The RBA’s cash rate has now reached its highest level since 2008. Back-to-back hikes will heap more pain on more than 3.3m households with home loans and turn t
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