The Reserve Bank has raised the cash rate by another quarter of a percent, bringing the rate to 4.1 per cent.

The move was largely expected as the RBA’s ongoing solution to deal with inflation.

Judo Bank Chief Economic Advisor Warren Hogan told Julie-anne Sprague on 6PR Afternoons this will hopefully bring interest rates to proportion with inflation.

“I think they’re near the end, or at least at the point where they can sit back for four or six months, and hopefully we’ll get the evidence that the rate hikes to date are having the right effect,” Mr Hogan said.

Press PLAY to hear more on the cash rate hike and what it means for the economy