✉news BusinessBanking first seen 11 h ago, last 10 h ago, peak #33
Australia's central bank lifts cash rate to 15-year peak
Original: Australia’s central bank raises cash rate to 15-year peak By Reuters
Australia's central bank, the Reserve Bank of Australia, has raised its cash rate to its highest level in 15 years, according to Reuters. The move means higher borrowing costs for Australian households and businesses, and signals the bank is still working to bring inflation back to target despite signs of economic slowing. Markets and economists will be watching for hints on whether further tightening is ahead.
Why now: The rate rise to a 15-year high directly affects mortgages and borrowing costs, making it a major talking point for households and markets.
Reserve Bank of AustraliaAustralia
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