RBA: emerging Asia behind inflationary pressures
The Reserve Bank of Australia's Monetary Policy Statement, released on Friday, said a V-shaped recovery in Asia and strong growth in China in particular, was a major contributing factor to the Reserve Bank raising rates.
"The strong recovery in Asia has underpinned substantial rises in the prices of Australia's main commodity exports," the central bank said "In particular, prices for iron ore and coking coal have increased sharply over recent months, reflecting strong growth in steel production
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