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The governor of the Reserve Bank of Australia (RBA), Michele Bullock, says she empathises with mortgage holders but defends Tuesday’s decision to lift the cash rate for the first time in more than two years. ‘Now, I know this is not the news that Australians with mortgages want to hear, but it is the right thing for the economy,’ says the governor Subscribe to Guardian Australia on YouTube and hit the bell to see new videos ► / @guardianaustralia RBA interest rates decision: Reserve Bank increases cash rate to 3.85% in blow to mortgage holders ► https://www.theguardian.com/australia... Get the latest news at theguardian.com ► https://www.theguardian.com/au?CMP=gd... Support Guardian Australia ► https://support.theguardian.com/contr... Sign up to Guardian Australia's free daily newsletters, the Morning Mail and Afternoon Update ► https://www.theguardian.com/email-new... Find or follow Guardian Australia: Website ► https://theguardian.com/au?CMP=gdnaus_yt Google News ► https://news.google.com/publications/... Instagram ► / guardianaustralia TikTok ► / guardianaustralia LinkedIn ► / guardianaustralia Threads ► https://www.threads.net/@guardianaust... WhatsApp Channels ► https://whatsapp.com/channel/0029VaBW... Facebook ► / theguardianaustralia Newsletters ► https://www.theguardian.com/email-new... Subscribe to the Guardian's other YouTube channels: The Guardian ► / @theguardian Guardian News ► / @guardiannews Guardian Football ► / @guardianfootball Guardian Sport ► / @guardiansport Guardian Live ► / @guardianlive #rba #cashrate #australia #economy #interestrates