Crikey Media Wrap: While horses were whizzing around the track at Melbourne’s Flemington Race Course, The Reserve Bank of Australia issued a shock announcement that it would straddle mortgage holders with an official interest rate rise of 0.25%.
Rate rise
RBA shocks with 0.25% rate rise
The Reserve Bank of Australia has shocked the market by raising official interest rates by 0.25% to 4.75% this afternoon, citing a looming risk of rising inflation, writes Smart Company’s Patrick Stafford.
scandal 
Kohler: How 18 out of 20 economists were wrong
Amongst all the chatter about interest rate rises, rumours were circulating that two journalists were getting leaked info directly from the RBA, reports Alan Kohler. What problems will this bring?
Political snippets: Rann goes from goody two-shoes to bad boy
Mike Rann’s image takes a pounding, why there won’t be a rate rise, scary stories of beef production, a new Winnie the Pooh character and more from the mind of Richard Farmer.
Goldman Sachs JBWere predicts no local rate rise in 2008
Investment bank Goldman Sachs JBWere has made a big call, predicting there won’t be a rate rise in Australia next year, writes Glenn Dyer.
Reality check: Ho, hum to interest rate rise
A salutary reminder this morning for all we political junkies. The high school massacre in Finland is proving of far more interest to readers of news on the internet than that interest rate business, writes Richard Farmer.
RBA repudiates the government line
This was the first election campaign rate rise and it was also the one where the main thrust and slogan of the incumbent government has been so thoroughly repudiated by the independent RBA, writes Glenn Dyer.
Crikey Cabbie Panel: Can Howard survive another rate rise?
The newspapers are saying another rate rise will be politically disastrous for the PM, but what are the people who really know about these saying? Crikey referred the question to its election Cabbie Panel.
Sales boom, rates steady, inflation presses, market surges. Oh my god.
We are in for four weeks of neverending interest rate speculation after the Reserve Bank left rates on hold today and retail sales figures for August showed that the sales boom continues in Australia.
