RBA gets back on the hike bandwagon
Cash rate target rises to 3.85%, with governor Philip Lowe leaving the door ajar for more hikes.
Illustration: Michael Hickmott.
The Reserve Bank of Australia has jumped back on the bandwagon and hiked by a further 25 basis points this month, after a brief pause last month.
Its cash rate target has risen to 3.85% because inflation at 7% remained “too high”, according to RBA governor Philip Lowe.
He said inflation would
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