The Reserve Bank of Australia (RBA) has raised the cash rate for the first time in over a decade, up 0.25 percentage points to 0.35 percent. The decision came earlier than what was initially indicated in response to March quarter inflation figures, released on April 27, that showed annual inflation had surged to 5.1 percent, the highest level since the introduction of the goods and services tax. RBA Governor Philip Lowe said the board judged it was the right time to begin pulling back from the extraordinary expansionary monetary support provided during the pandemic, where the cash rate had been maintained at 0.1 percent since November 2020. ...
Source: https://www.theepochtimes.com/australia ... 42169.html
Australia Hikes Official Interest Rate for First Time in Over a Decade
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Australia Hikes Official Interest Rate for First Time in Over a Decade
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