Recession risk from rate rises and petrol

Borrowers copped another interest rate hike yesterday - the second in two months - in a highly anticipated move by the Reserve Bank.

But it was a a close vote; with five members backing an increase to the cash rate by 25 basis points - and four voting to keep rates on hold.

• GUEST: Paul Bloxham, Chief Economist for ANZ and Global Commodities at HSBC
• PRODUCER: Jason Whittaker