Consumers are continuing to spend strongly despite rising interest rates, with pubs, clubs, restaurants and small businesses in the travel and accommodation sectors all telling Commonwealth Bank boss Matt Comyn they are experiencing their best trading conditions ever.

Speaking just before the Reserve Bank of Australia raised the cash rate by 0.25 percentage points to 3.6 per cent, its 10th consecutive hike, Mr Comyn said while some high-end retailers are starting to feel the pinch, overall consumers still have their wallets open.