The Guardian Australia
·general
·1 hour ago
RBA raises rates to 4.35% as inflation accelerates and hardship deepens
Australia's Reserve Bank lifted its official interest rate to 4.35% Tuesday as inflation accelerated to its fastest pace since 2023. Governor Michele Bullock said "Australians are poorer" due to energy costs stemming from Middle East conflict. Treasurer Jim Chalmers warned the rate rise will worsen hardship for Australians already bearing hefty costs from the regional.
Summary by Glance · The Guardian Australia
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