RBA raises rates to 6.25%

The Reserve Bank of Australia has increased the official cash rate by 25 basis points to 6.25% as widely expected, after its monthly monetary policy meeting on Wednesday 8 November.

"Domestic demand has been expanding at a relatively strong pace against a background of limited spare capacity," the RBA said in a statement. "Labour market conditions have remained tight and businesses are reporting high levels of capacity usage. While there have been some tentative signs of moderation in the dema