RBA raises rates as inflation battle intensifies

The Reserve Bank of Australia has raised interest rates again to combat inflation, with Governor Michelle Bullock identifying high domestic demand and the Middle East conflict's economic impact as key drivers. The decision has sparked political debate between Housing Minister Clare O'Neill and National Senate Leader Bridget McKenzie over government spending and fiscal responsibility. The rate increase marks the 15th rise under the Albanese government, intensifying pressure on Australian households already struggling with higher living costs and petrol prices.See omnystudio.com/listener for privacy information.