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Post by sevenofnine on Jul 5, 2022 11:32:39 GMT -5
Yeah this main interest rate banks for OZ Feds Australia’s central bank on Tuesday raised interest rates for a third straight month and flagged more ahead as it struggles to contain surging inflation even at the risk of triggering an economic downturn. Wrapping up its July policy meeting, the Reserve Bank of Australia lifted its cash rate by 50 basis points to 1.35%, marking 125 basis points of hikes since May and the fastest series of moves since 1994. “The Board expects to take further steps in the process of normalising monetary conditions in Australia over the months ahead,” said RBA Governor Philip Lowe in a statement. The hike was widely expected in markets and the local dollar eased slightly in reaction to $0.6863 while f www.cnbc.com/2022/07/05/australias-rba-raises-interest-rates-for-the-straight-month.html
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