The Reserve Bank of Australia (RBA) opted to raise its benchmark interest rate by 25 basis points to 4.25% on Tuesday, reiterating its intention to tackle inflation.
Markets reacted positively to the news with the S&P/ASX, Australia's main stock market index, closing 17 points higher at 4924.7 for the day. The Australian dollar also strengthened, gaining 0.23% against the dollar, 1.05% on the euro and 1.03% against sterling.
The interest rate rise, the fifth since October, follows signs that low
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