✉news BusinessBanking first seen 11 h ago, last 7 h ago, peak #28
RBA raises Australian interest rate to 4.60%
Original: Australian RBA Interest Rate Decision 4.60% vs. Exp. 4.6% (Prev. 4.35%)
The Reserve Bank of Australia has lifted its cash rate to 4.60%, up from 4.35% and in line with expectations. It is the first hike of this cycle, and markets and economists are watching for what the move signals about the bank's fight against persistent inflation and whether further tightening will follow.
Why now: A surprise-direction interest rate hike from the RBA immediately moves the Australian dollar, bond yields and rate-hike expectations.
Reserve Bank of AustraliaAustralia
Evidence
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