Economic Information Daily, 29th - The Reserve Bank of Australia announced on Tuesday a 0.25 percentage point rate hike, raising the cash rate target from 4.35% to 4.6%, reaching the highest level in nearly 15 years, in line with market expectations.
The statement said the policy committee, consisting of nine members, voted unanimously to implement the fourth rate hike this year.
The Reserve Bank of Australia stated that inflation levels remain too high. The committee judged that, given recent developments, it is necessary to further tighten financial conditions to support inflation returning to the target range within a reasonable timeframe. The board will continue to take necessary measures to ensure inflation returns sustainably to the target level and will further raise the cash rate target if needed. (rc)
The statement said the policy committee, consisting of nine members, voted unanimously to implement the fourth rate hike this year.
The Reserve Bank of Australia stated that inflation levels remain too high. The committee judged that, given recent developments, it is necessary to further tighten financial conditions to support inflation returning to the target range within a reasonable timeframe. The board will continue to take necessary measures to ensure inflation returns sustainably to the target level and will further raise the cash rate target if needed. (rc)
