Shock rate rise - Reserve Bank wrongfoots market economists with eleventh rate rise to 3.85pc warning of more to come if inflation becomes entrenched

The Reserve Bank has shocked economists and financial markets by raising interest rates by 0.25 percentage points to 3.85 percent - the eleventh in a year.

Here's my breaking news coverage for the Perth edition of The World Today

Here's the live coverage on the ABC News Channel as the decision hit.