The central bank has lifted the cash rate by 25 basis points to 3.6 per cent, the 10th consecutive rate lift since May.

It’s the highest interest rate since 2012.

Press PLAY below to hear Neil Breen recap today’s announcement

Economists are now concerned that further raises are on the away, sparking fears of a recession.

AMP Capital’s senior economist Diana Mousina says if the cash rate rises above 4 per cent, she predicts a 50 per cent chance of a recession.

“The risk is rising, as interest rates go up,” she said.

“I’d say the risk of a recession in Australia is probably about 40 per cent in the next 12-18 moths, so that’s much higher than normal.”

Press PLAY below to hear her thoughts in full

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