Good afternoon. The Reserve Bank has hiked rates for the first time in more than two years. The central bank announced the cash rate would lift to 3.85%, from 3.6%, after an unexpected jump in inflation through the second half of 2025. The quarter of a percentage point increase will raise the interest cost on a $600,000 home loan by $90 a month, bringing the monthly repayment to $3,782, according to Canstar. The opposition used question time to target Jim Chalmers over the impact of Labor’s spending on the decision, which the treasurer said was “widely expected”. Top news Nationals
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