Another rate rise

The Reserve Bank of Australia has met, and voted, to raise interest rates by 25 basis points from 4.60% to 4.85%.

It's the fifth rise this year.

It’ll be unwelcome news for those already struggling with the cost of living around the country - but is the pain necessary to get inflation back under control?

And the next question now - is a sixth rate increase potentially on the horizon?

Carrington Clarke and ABC Money Correspondent Jessica Irvine break it all down on ABC Business Daily.

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