Australian shares have climbed 1.65 per cent, with all sectors gaining ground after the RBA announced a rate increase that was in line with expectations.
The cash rate has been hiked for the seventh consecutive month, up 25 basis points to be 2.85 per cent, as the Reserve Bank predicts inflation will hit 8 per cent this year.
The local share market has finished down 0.9 per cent, with big losses for the mining giants after government statistics showed a drop in iron ore exports.
A one-off subsidy on power bills has helped Perth prices drop 0.5 per cent in the September quarter, while national inflation hit 1.8 per cent for the quarter.
Ochre Workforce boss Joanne Pellew, who is awaiting trial over claims she lied to ASIC, has asked a court for permission to peer into the books of an enterprise she was once part of.
New wagering group Betr has reportedly bowed out of the bid for the state government's $1 billion betting agency, just weeks after being declared the frontrunner ahead of its national launch.
