The Informer: The RBA announces another rate rise as Anthony Albanese hits back at critics

The central bank lifted rates by 50 basis points, brining the official cash rate to 1.35 per cent.

RBA Governor Philip Lowe said monetary policy is responding to the higher levels of inflation but warned it would take some time for levels to stabilise.

"The resilience of the economy and the higher inflation means that this extraordinary support is no longer needed," Dr Lowe said.

Treasurer Jim Chalmers spoke after the announcement, claiming people with a $500,000 mortgage would have to find an additional $137 per month.

"Our ability to respond to a lot of these challenges is constrained by the fact that there is a trillion dollars of debt in the budget and we need to take that challenge seriously," Dr Chalmers said.

Out on the world stage, Prime Minister Anthony Albanese addressed media at a stopover in Perth after attending the NATO summit, repairing relations with French President Emmanuel Macron and a visit to the war zones of Ukraine.

Shadow treasurer Angus Taylor had criticised Mr Albanese for being "more concerned about his reputation on the global stage" than making sure people in NSW had a place to sleep during the flood crisis.

"We cannot separate international events from the impact on Australia and Australians," Mr Albanese said.

"And for those people who might like to say which of the events I have attended on behalf of Australia, that I should not have attended, I have not had a day off for a very long period of time."

NSW continues to battle severe weather conditions as the Hunter region and Mid-North Coast are next in line for a drenching as western Sydney endures widespread flooding again.

So far, about 50,000 people have been given evacuation orders or warnings and several major flood alerts are in place including for the Hawkesbury-Nepean catchment as rivers rise.

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