Continuing with the finance theme… Aussie borrowers will be hit with another rate rise after the Reserve Bank board yesterday decided to lift the official cash rate to 3.85%. It came as a shock to some economists following recent signs that inflation has started to ease in Oz. Bank Governor Philip Lowe said inflation’s passed its peak, “but at 7% is still too high” given the target rate is 2-3%. Lowe says the cost of services and labour is still going up, and unemployment remains low. That equals more spending/demand in the economy, which circles back to more price rises. And it might not be over – Lowe’s flagged that “further tightening of monetary policy may be required” (aka rate rises) to tackle inflation down the track. Treasurer Jim Chalmers said yesterday’s update was tough for Aussies who are already under the pump but was “a reminder of the difficult economic conditions” shaping next week’s Federal Budget.