News just in:

The Reserve Bank has lifted its key interest rate for a second month in a row as it attempts to keep Australia’s economy on track for sustained growth.

Today’s widely tipped 25-basis-point increase raises the central bank’s cash rate to 3.5 per cent …

”Economic conditions in Australia have been stronger than expected and measures of confidence have recovered,” [RBA Governor Glenn] Stevens said.

Prime Minister Kevin Rudd responds: