✉news BusinessBanking first seen 13 h ago, last 13 h ago, peak #5
Australia Raises Interest Rate to 15-Year High
Original: Australia Raises Key Rate to 15-Year High to Restrain Inflation
Australia's central bank has lifted its key interest rate to the highest level in 15 years in an effort to bring inflation under control. The move means higher borrowing costs for households and businesses, and it signals that policymakers remain determined to curb price growth despite the pressure on mortgage holders and the wider economy.
Why now: The rate hike to a 15-year high affects mortgages and living costs, making it a major economic story.
AustraliaReserve Bank of Australia
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