RBA raises interest rate by another 50bp
Australia’s central bank today (August 2) lifted its benchmark interest rate for a fourth straight month to fight inflation, but signalled flexibility in its future policy decisions.
The Reserve Bank of Australia raised its cash rate by 50 basis points to 1.85%, the highest level since May 2016. The move marks the central bank’s third 50bp hike in a row.
“Today’s increase in interest rates is a further step in the normalisation of monetary conditions in Australia,” said RBA governor Philip
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 info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Bank of Israel keeps interest rates unchanged
Yaron warns government over fiscal policy as central bank cuts growth forecast
ECB willing to hike rates further, say minutes
Governing council stresses it needs to be persistent and vigilant to bring inflation to 2% target
Riksbank keeps policy rate at 4%
Most analysts think the Swedish central bank has reached peak rate
Albania, Armenia and North Macedonia make policy decisions
North Macedonia pauses tightening as Albania’s continues, while Armenia faces 0% inflation
Moldova cuts rates steeply while Romania holds
IMF says Moldovan central bank has largely neutralised second-round effects
Bank of Mexico keeps rates at 11.25%
In unanimous decision, board stresses rates are likely to remain unchanged ‘for some time’
Peru continues gradually cutting policy rates
Inflation falling slowly towards target while 2024 promises low growth
Norway and Czech Republic hold rates
Norges Bank 'likely' to make small increase in December