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ABC News
ABC News
Business
business reporter David Chau, wires

ASX rises as Reserve Bank lift rates, Dow Jones posts biggest monthly surge in 47 years

The local share market and the Australian dollar have risen significantly as the the Reserve Bank of Australia (RBA) hikes the cash rate for the seventh time in a row.

As most economists anticipated, a 0.25-percentage-point increase was delivered, bringing the RBA's cash rate target to 2.85 per cent.

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