Economist Chris Richardson has explained the reasoning behind the latest RBA rate rise to 3.85 per cent, up 25 basis points.

Mr Richardson believes it’s the “last swing of the baseball bat” from the Reserve Bank, but implored people to be patient.

“The higher the rates go, the more important it is to be patient,” he told Chris O’Keefe.

Press PLAY to hear him explain 

The 2GB Drive host then spoke to Scott Kuru from Freedom Property Investors, who claimed the latest rate rise was a “slap in the face” particularly to first home buyers.

Press PLAY to hear how the latest rate rise will affect Sydney’s property market 

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