RBA hikes interest rate by 50 basis points to curb inflation

By Gerard Cockburn, Hannah Neale
Updated July 5 2022 - 7:20am, first published 7:19am
RBA opts for double hike, lifts cash rate to 1.35pc

Australia's central bank has lifted interest rates to combat surging inflation which is being fuelled by supply shortages and higher commodity prices including energy and fuel.