RBA lifts rates 0.25% to 4.75%

The Reserve Bank has lifted the official cash rate by 25 basis points to 4.75 per cent after expressing concern about the risk of inflation rising again over the medium term.


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This is a huge kick in the guts for all businesses not associated with the mining industry, and a massive blow to an already sluggish building sector. Now we will all have less turnover and continue to have to pay higher wages to stop our staff going north!!

Well, we will just have to suck it in, won't we. The disgusting thing is the banks then put an increase on top of that, like the CBA doubling the increase. Suck it in doubly.

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