Cash rate decision 4.60%Prior decision 4.35%Today’s policy decision was unanimousSince the previous meeting, some of the upside risks to inflation are materialisingThere continue to be heightened uncertainties about the outlook for domestic economic activity and inflationRBA remains focused on ensuring that high inflation does not become embeddedInflation is still too high; some of the upside risks flagged in August are materialisingA further tightening in financial conditions is warranted to support a return of inflation to target in a reasonable periodWill continue to do what is necessary to bring inflation sustainably back to target, including increasing the cash rate target further if neededWill be attentive to the data and the evolving assessment of the outlook and risks to guide its decisionsFull statementComing into the decision, markets had fully priced in a 25 bps rate hike with roughly 43% odds of another move in November next. More to come.. This article was written by Justin Low at investinglive.com.