The Reserve Bank (RBA) has just increased the official interest rate by 0.25 of a percent (that's 25 basis points) taking the official cash rate up to 3.25%. For the record this is actually the first time rates have gone up since March 2008.
The 0.25% interest rate increase is a positive sign that the Australia's economy is on the mend and looking healthy, so expect more interest rate rises and we continue to strengthen.
The RBA has kept people in line by issuing warnings about the risks of rates rising and now they've finally gone ahead and raised rates from the very low emergency lows of 3 percent. Interest rates have been down at the stimulatory lows of 3.00% for almost all of 2009, but with the increase in housing prices and the improvement in business confidence its meant an end to the low/low rates.

Are you happy with the rate rise?