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AAP
AAP
Andrew Brown

'Too high': risk to economy forces RBA's hand on rates

Reserve Bank the Reserve Bank Michele Bullock Inflation RBA
The Reserve Bank board has unveiled the minutes of the meeting that led to its rates decision. (Susie Dodds/AAP PHOTOS)

The risk of persistent inflation over coming months was behind the Reserve Bank's decision to hike interest rates for the first time since 2023.

Minutes from the central bank's February meeting - where the board decided to lift the cash rate by to 3.85 per cent - were released on Tuesday, saying inflationary pressures represented a growing challenge.

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