RBA delivers another 25bp rate hike
Philip Lowe signals flexibility over further rate increases
Australia’s central bank raised its benchmark interest rate for the eighth straight meeting today (December 6) and signalled further tightening to curb high inflation.
The Reserve Bank of Australia’s nine-member board raised the cash rate by 25 basis points to 3.1%, the highest since November 2012.
“Inflation is too high,” said RBA governor Philip Lowe. “The board expects to increase interest rates further over the period ahead, but it is not on a pre-set course.”
High inflation is
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