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Reserve Bank of Australia raises cash rate to 4.60%
RBA hikes cash rate to 4.60%, highest since 2011, impacting borrowers and increasing living cost pressures.
Reserve Bank of Australia raises cash rate to 4.60%, the highest since 2011, amid inflation and labour market concerns
The Reserve Bank of Australia has increased the cash rate by 25 basis points to 4.60%, marking the highest level since 2011.
This decision reflects ongoing concerns about inflation and a tight labour market, and it was anticipated by markets and banks.
Borrowers on variable-rate mortgages will face higher repayment costs, adding pressure on the Albanese government over living expenses.
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