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The Independent UK

National

Via AP news wire

Australian central bank hikes rate to 6-year high 1.85%

Australia Philip Lowe Warren Hogan Jim Chalmers

Copyright 2022 The Associated Press. All rights reserved

Australia’s central bank on Tuesday boosted its benchmark interest rate for a fourth consecutive month to a six-year high of 1.85%.

The Reserve Bank of Australia’s decision was the cash rate’s third consecutive hike of half a percentage point.

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