RBA raises interest rates to highest level in 18 years to curb inflation

The Reserve Bank of Australia reportedly lifted its cash rate to 4.85%, its highest in 18 years, to dampen inflation. Outlets describe it as the fifth rate hike, hitting mortgage holders.

Timeline

1. 3 Nov, 04:50 UTCFirst appeared on Google Trends
2. 3 Nov, 04:50 UTCABC News reports RBA rate lift
3. 3 Nov, 04:50 UTCGuardian runs live updates on rate hike

Top sources

• rba press conferenceGoogle Trends
• Watch: Cup Day carnage as RBA smashes Aussies with fifth rate hikeThe Courier Mail
• RBA interest rates live updates: Reserve Bank of Australia hikes rate to 4.85% in blow to mortgage holders – latest newsThe Guardian