RBA interest rates: Reserve Bank hikes cash rate for fifth time this year in blow to mortgage holders

Reserve Bank of Australia increases official cash rate to 4.85%, bringing it to highest level since 2008 RBA interest rates live updates: Reserve Bank cash rate decision Get our daily political email, free app or daily news podcast The Reserve Bank has hiked rates for the fifth time this year, from 4.6% to 4.85%, in an attempt to regain control of surging inflation amid an ongoing global oil shock…