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Another big leap takes interest rates to six-year high

The RBA has created history by raising interest rates by 0.5 per cent for the third month in a row, making it four consecutive months of increases.

RBA Governor Philip Lowe overlaid on RBA building and text with 0.5% and arrow upwards.
Interest rates have risen 1.75 per cent since May.

Interest rates have continued their historic upward trajectory, with the cash rate lifted by another half a percentage point to a six-year high of 1.85 per cent.

It marks the first time the Reserve Bank of Australia (RBA) has lifted interest rates at four consecutive meetings since the introduction of its 2 to 3 per cent inflation target in 1990.

It comes after the latest inflation figures showed Australian prices rose 6.1 per cent in the June …