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RBA hikes cash rate target by 50bp

Further rate increases are expected to cool inflation.

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
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RBA hikes cash rate target by 50bp
General Business,
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