Reserve Bank of Australia lifts interest rate

Australia's Reserve Bank has again raised official interest rates, taking them to their highest level in more than two and a half years. The RBA said in a statement released Wednesday that the domestic economy is strong and there is a continuing improvement in economic conditions around the world.

Source: ABC Australia Radio News

As expected, the Reserve Bank has raised interest rates by 0.25 per cent. That takes the official cash rate to 5.25 per cent.

In a statement, the Reserve Bank says

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