RBA raises cash rate to 4.60%, a 15-year high
The RBA's fourth hike this year takes the cash rate to its highest since 2011, and mortgage repayments are already moving. Oil tops $108 as Hormuz workarounds pile on cost, and Wall Street closes lower on the way out the door. New Zealand's sharemarket sinks as the rate shock crosses the Tasman, even as one Kiwi retailer hits a record high.
