Larry Williams Drive

Australia's cash rate has been hiked for the tenth time in a row to its highest point in 11 years. The Reserve Bank of Australia has increased it by 0.25 percent to 3.6 percent in an attempt to reduce inflation. Correspondent Murray Olds says this will affect people across the board. "More pain for people who are renting, because of course people who are renting have to pay the rent to someone who's paying off that property. And the rents are going up inexorably as interest rates go up." LISTEN ABOVESee omnystudio.com/listener for privacy information.