CANBERRA, ACT, Nov. 3 -- The Treasurer of Australia issued the following media release:
Today the Reserve Bank increased the cash rate by 25 basis points to 4.85percent.
Today's decision was widely expected but that doesn't make it any easier for Australian families and businesses to absorb.
It will be difficult news for many Australians who are paying a hefty price for circumstances outside of their control.
Australians are already struggling and this will stretch their budgets even further.
The full impacts of the previous rate rises earlier this year haven't been fully felt yet and will slow our economy further when they are.
Today's decision was widely anticipated but not unanimous. This is unsurprising given considerable uncertai...