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AAP
AAP
Business
Jacob Shteyman

UNCOVERED: Borrowers back to square one as likely rate hike looms | History Defined

The RBA's Michele Bullock has delivered more pain on mortgage-holders - and on Jim Chalmers. (Susie Dodds/AAP PHOTOS)

As mortgage holders count the costs of a third straight rate hike, economists warn there could be more pain to come after a hawkish Reserve Bank decision.

The central bank's monetary policy board voted in a split 8-1 decision to raise the official cash rate by 25 basis points to 4.35 per cent as it wrapped up a two-day meeting on Tuesday.

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