Larry Williams Drive

The Reserve Bank of Australia has raised the cash rate up by 25 basis points to 3.35 percent. This is the ninth rate hike in a row, raising Australia's OCR to the highest it's been since 2012. HSBC Chief Economist Paul Bloxham says this rate hike wasn't a surprise, as several economists had predicted this increase and suspect that this won't be the last. "To get inflation to come down, we should expect a slowdown in growth, but the RBA's trying really hard not to have to deliver a recession along the way." LISTEN ABOVE  See omnystudio.com/listener for privacy information.