RBA flags sharp rise in commodity prices
The Reserve Bank of Australia's Monetary Policy statement on Thursday said the Australian economy was continuing to benefit from the high level of commodity prices but that it may necessitate higher interest rates.
The central bank said strong demand from Asia had led to sharp rise commodity prices over the last year. It said solid demand from Asia had caused the spot prices of bulk commodities to increase by about 5% to 10% in recent months. It said the high level of commodity prices continued
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