The Reserve Bank has lifted interest rates by another quarter of a percentage point the seventh rate rise in seven months. It is a move which had been widely expected though some economists thought it could have been twice that. It takes the cash rate from 2.6 per cent to 2.85 per cent and you'd have to rewind nine years to find a higher rate. Already the NAB has made its move the first of the big-4 banks to announce it'll pass on the rate rise in full business reporter Alicia Barry has the details.