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ABC News
ABC News
Business
business reporter Michael Janda

Reserve Bank sticks to smaller interest rate hike despite inflation shock

The Reserve Bank has raised its cash rate target by 0.25 of a percentage point, opting against a return to steeper interest rate hikes.

The latest move takes the RBA's cash rate target to 2.85 per cent, up from a record low of 0.1 per cent at the start of May this year, and the highest it has been since May 2013.

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