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The Independent UK

National

Nick Perry

Australia's central bank raises key interest rate to 3.1%

Australia Philip Lowe Inflation

Copyright 2022 The Associated Press. All rights reserved.

Australia's central bank has raised its benchmark interest rate by a quarter-point to 3.1% as it continues trying to wrestle down inflation.

The rate increase is the eighth in a row made by the bank and marks the rate's highest level in 10 years.

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