RBA interest rates: Reserve Bank raises official rate to 2.35% amid inflation fears
by Peter Hannam Economics correspondent from World news | The Guardian on (#639VE)
The RBA decision brings the cash rate to the highest level since 2015 with mortgage holders set to face higher repayments
The Reserve Bank has raised its key interest rate for a fifth month in a row to 2.35%, extending Australia's fastest pace of increases in borrowing costs in almost three decades.
The 50 basis-point rise, decided on Tuesday by the RBA board, lifted the cash rate to the highest since 2015. The increase was in line with the expectations of most economists.
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