SYDNEY, Nov 7 — Australia’s central bank raised interest rates to a 12-year high today, ending four months of steady policy, but left it open on whether even more tightening...
Asus Malaysia replies local artist demanding take down of brand’s Israeli social media posts, in solidarity with under-siege PalestineWrapping up its November policy meeting, the Reserve Bank of Australia raised its cash rate by 25 basis points to 4.35 per cent. ― Reuters picSYDNEY, Nov 7 — Australia’s central bank raised interest rates to a 12-year high today, ending four months of steady policy, but left it open on whether even more tightening would be needed to bring inflation to heel.
This was a step back from the October decision which stated that some further tightening “may be required”, and was taken by markets as a sign this might be the last hike of the cycle.As a result, the local dollar slipped 0.4 per cent to US$0.6460 AUD=D3 and bond futures rallied as investors lengthened the odds on a further rise in December.
Rates have now risen by 425 basis points since May last year, adding thousands of dollars to average mortgage repayments in easily the most aggressive cycle on record for the RBA.
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