RBA Lifts Cash Rate 25bps to 4.60%

By Sophia Rodrigues

The RBA raised the cash rate by 25bps to 4.60%, taking the total rate hike this year to 100bps.

The increase was in response to "some of the upside risks to inflation" now materialising. These risks were flagged at the August meeting, and the RBA highlighted they were skewed to the upside.

"The Board will continue to do what it considers necessary to bring inflation sustainably back to target, including increasing the cash rate target further if needed," the RBA said.