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Australia’s central bank hikes rates, says policy not on pre-set path

Australia’s central bank hikes rates, says policy not on pre-set path

Australia's central bank on Tuesday raised interest rates for a fourth month running, but tempered guidance on further hikes as it forecast faster inflation but also a slowdown in the economy.

by Shared from Yahoo Finance | Aug 2, 2022

RBA warns of insolvencies following extended lockdown

Wrapping up its August policy meeting, the Reserve Bank of Australia (RBA) lifted its cash rate by 50 basis points to 1.85%, marking an eye-watering 175 basis points of hikes since May in the most drastic tightening since the early 1990s.

Yet, RBA Governor Philip Lowe also made the outlook for policy more conditional.