Increase in interest rates - boon for some, bane for others

As widely anticipated - the Reserve Bank has lifted official interest rates for a sixth consecutive month - to curb rampant inflation. The RBA has lifted the cash rate by 25 percentage points. Listen to Urdu podcast.

FILE - Governor of the Reserve Bank of Australia Philip Lowe speaks in Sydney, Australia, Thursday, Sept. 8, 2022. Australia's central bank has boosted its benchmark interest rate for a sixth consecutive month to a nine-year high of 2.6% Tuesday Oct. 4, 2022. (AP Photo/Mark Baker, File) Source: AP / Mark Baker/AP