Australia raises rates to fresh high

The Reserve Bank of Australia's rate-setting board voted to raise rates 25 basis points to 7%, their highest level in over 11 years.

Tuesday's rate hike, which was widely expected, follows a recent rise in inflation. CPI inflation on a year-end basis picked up to 3% in December, with underlying inflation hitting 3.5%. Commenting on the rise, Glenn Stevens, the governor, said: "This was a little higher than was expected a few months ago."

"Indicators of demand remained strong through the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: