RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel
Australia’s central bank today (August 2) lifted its benchmark interest rate for a fourth straight month to fight inflation, but signalled flexibility in its future policy decisions.
The Reserve Bank of Australia raised its cash rate by 50 basis points to 1.85%, the highest level since May 2016. The move marks the central bank’s third 50bp hike in a row.
“Today’s increase in interest rates is a further step in the normalisation of monetary conditions in Australia,” said RBA governor Philip
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