6 September 2022 | Other

Australia's central bank announced a 50 basis-point rate hike

Analysts' forecasts were fully justified: the Reserve Bank of Australia declared a new interest rate rise by 50 basis points. 

That is the fifth consecutive hike since May. The decision led to a seven-year rate maximum. 

The reason for tightening monetary policy by the RBA is quite simple: inflation in Australia hit a record and reached 6.1%. This indicator exceeds the Central Bank’s target of 2-3%.



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