Reserve Bank raises cash interest rate to 6%

On 1 August, 2006, the Reserve Bank of Australia voted to raise interest rates by 0.25 of a percent. The RBA trys to keep inflation in the range of 2 to 3% but was forced to raise rates when inflation recently blew out to 4%. Many economists predict another rate rise before the end of the year. If you would like to keep up to date with what's happening with inflation and other economic data you can vist the RBA website at www.rba.gov.au