RBA hikes interest rates to 2012 highs
Economies.com
2023-03-07 08:55AM UTC
The Reserve Bank of Australia decided to increase interest rates by 25 basis points today as expected by market analysts to 3.60%, the highest since May 2012, from 3.35%5 at the previous meeting.
It's the tenth rate hike in a row in order to control inflation in Australia, which showed signs of response recently to the RBA's measures.
The RBA expects interest rates to reach 4.1% this year with two more rate hikes and to remain stable afterwards.
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