Aussies hike for third straight month

australian-dollars

The Reserve Bank of Australia on Tuesday raised its cash rate by 25 basis points, in line with expectations.

The hike leaves the benchmark rate at 3.75%, its highest since February.

The rise was widely predicted after Glenn Stevens, the governor of the Reserve Bank, said following last month's vote that "further gradual lessening of monetary stimulus" was likely "if the economy evolves broadly as expected".

However, Stevens hinted on Tuesday that the central bank's tightening cycle could pause in

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