BREAKING: The Reserve Bank has lifted the cash rate by 25 basis points to 4.1%. 7NEWS
The RBA met on Tuesday and lifted the cash rate by 25 basis points to 4.1 per cent — the highest level since April 2012.Looking for a new job or job candidate? Post jobs and search for local talent onIt marks the 12th interest rate hike since May last year, when the cash rate was at a pandemic-low of 0.1 per cent.
“Inflation in Australia has passed its peak, but at 7 per cent is still too high and it will be some time yet before it is back in the target range,” RBA Governor Philip Lowe said. “The board will continue to pay close attention to developments in the global economy, trends in household spending, and the outlook for inflation and the labour market.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBA hikes rates to 4.1 per centThe Reserve Bank has elected to increase interest rates by 25 basis points to 4.1 per cent at its meeting on Tuesday.
Read more »
Cash rate surges past 4 per cent as RBA hikes againInterest rates climb above 4 per cent for the first time in more than 11 years, as the Reserve Bank moves aggressively to clamp down on inflation.
Read more »
RBA should ‘wait’ for economic data before raising rates againThe Switzer Report Founder Peter Switzer says the smartest thing RBA Governor Philip Lowe should do is “wait” for the economic data to come out before raising interest rates again. “I just think there’s good reason for him to hold fire,” Mr Switzer told Sky News Australia. “If he doesn’t, I think he will compound the problem...which will be really emphasised when the cliff happens.”
Read more »
'Hold fire': Financial expert urges RBA to wait before moving ratesThe Fair Work Commission's decision to boost wages has many economists now expecting the RBA to raise rates again on Tuesday, but one financial commentator is urging decision makers to hold off until the effects of the change filter through the economy.
Read more »
The RBA still has work to do if it is to contain inflationOPINION: Rate rises were supposed to start biting this year. But it looks like the Reserve Bank may have to push the cash rate past 4 percent to slow the economy.
Read more »
RBA expected to keep interest rates on holdOnly 10 out of 30 economists expect the cash rate to rise this week with money markets projecting a 37 per cent chance of a rate increase. RBA Governor Philip Lowe is facing the two major challenges of rising inflation and wages in his decision.
Read more »