The Reserve Bank has signalled that it is serious about taming inflation lifting interest rates by an additional 25 basis points and ratcheting the cash rate up to 4.35 per cent, its highest level since late 2011. The increase follows a temporary reprieve for borrowers, but today's lift threatens to push many to the brink.
Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.