Reserve Bank lifts cash rate to 0.85

Dan Jervis-Bardy
By Dan Jervis-Bardy
Updated June 7 2022 - 7:03am, first published 4:30am
Treasurer Jim Chalmers said the sharp rise would be "very difficult news" for households already under the strain of cost of living pressure.

The Reserve Bank has raised the official cash rate 50 basis points, a larger than expected hike aimed at countering soaring inflation.

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Dan Jervis-Bardy

Dan Jervis-Bardy

Federal Politics Reporter

Dan covers federal politics from Parliament House, with a special focus on climate policy and the NDIS. He has previously reported on ACT politics and urban affairs since joining the Canberra Times in 2018.