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General Business
3 mins to read

RBA hikes cash rate target by 50bp

Further rate increases are expected to cool inflation.

Jonathan Mitchell Tue, 05 Jul 2022

Australia’s central bank has hiked its cash rate target as expected by 50 basis points, to keep a lid on inflation - exacerbated by the Covid-19 pandemic and Russia’s invasion of Ukraine.

The RBA’s cash rate target now sits at 1.35%, and followed a 50bp hike in June, and a 25bp rise in May.

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Jonathan Mitchell Tue, 05 Jul 2022
Contact the Writer: jmitchell@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Tags
RBA interest rates Philip Lowe interest rates RBNZ inflation OCR
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