Bank of Australia raises interest rate

11:28 - 6.12.2022

December 6, Fineko/abc.az.  The Reserve Bank of Australia (RBA) has raised the interest rate by 25 basis points in line with market expectations.

ABC.AZ reports that the interest rate was raised from 2.85 percent to 3.10 percent.

Over the past 8 meetings, the bank has increased the interest rate by only 300 points.
The Bank once again stressed that its priority is to restore low inflation and return it to the range of 2-3 percent.
The statement reads: "The Council closely monitors the global economy, household spending, wages and prices. Future interest rates will be determined based on the data.”

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