Paul Bloxham: HSBC Chief Economist on the RBA pushing up the cash rate by 25 basis points
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."
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