The Reserve Bank of Australia (RBA) has confirmed it is lifting the cash rate for the sixth consecutive month, with another 25 basis point increase following October’s Board meeting. The cash rate has now surged to a nine-year high following a rapid 250 basis points increase in just 153 days, as the RBA battles to curb rising inflation. Philip Lowe, Governor of the Reserve Bank of Australia, …
RBA rises interest rates at their fastest pace in three decades
At their monthly meeting this afternoon, the RBA has decided to further raise its cash rate by 50 basis points, taking it from 1.85% to 2.35%, it's fastest pace in three decades. Shane Oliver, Chief Economist at AMP, told news.com.au, "They've done five hikes in a row, four consecutive 0.5 per cent increases, it's the fastest tightening cycle since 1994." On top of that, Australia's 2.35 per cent …
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RBA Hikes Cash Rate to 1.85%
At its monthly meeting today, the RBA once again has decided to raise Australia's cash rate by 50 basis points, taking it up to 1.85%, with predictions of more hikes to come over the coming months. As stated in Domain's article today, in a statement by RBA governor Philip Lowe, recent increases in interest rates were required to bring inflation back to target, while also flagging further rate …
RBA Raises Interest Rate to 1.35%
Today the RBA raised the interest rate to 1.35%, a further 50 basis points from their rise in June 2022, marking its third monthly rate rise in a row. As stated in Domain's article today, in a statement following today’s decision, Mr Lowe said inflation was expected to peak later this year before settling into the Bank’s target 2 to 3 per cent range next year as global supply issues ease and …
RBA Raises Interest Rate to 0.85%
Today's monthly interest rate meeting saw the Reserve Bank of Australia raise the current cash rate to 0.85%, returning to its highest level of since September 2019. This shock move also marks the first back-to-back rate rise in 12 years. In a statement, RBA's Governor Philip Lowe said "today's increase in the interest rates by the Board is a further step in the withdrawal of the extraordinary …
