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The New Daily
The New Daily
Business
Matthew Elmas

‘Inflationary storm’: RBA hikes interest rates to contain fallout as prices surge

RBA Inflation Philip Lowe Recession Saul Eslake United States
10 News First – Disclaimer

The Reserve Bank has slapped households with another painful interest rate hike in July as it tries to curb soaring inflation, with typical mortgage repayments set to rise by $144 within hours.

Economists said the bank’s third rate hike in as many months on Tuesday was needed to tame rising prices.

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