The Age
·general
·2 hours ago
Reserve Bank raises interest rates for third time this year
The Reserve Bank raised its cash rate to 4.35 percent Tuesday, the third hike this year, citing inflation risks from rising oil prices linked to the Iran war. The move adds nearly $100 monthly to average mortgage repayments. The central bank downgraded growth forecasts and warned the economy faces near-zero per-person expansion as unemployment rises to 4.7 percent by 2028.
Summary by Glance · The Age
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