Central Bank of Australia raises key rate to highest level in 11 years

News Department
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The Reserve Bank of Australia (RBA) has raised its key interest rate by 25 basis points to an 11-year high of 4.10%, Report informs referring to the bank’s statement.

This further increase in interest rates is to provide greater confidence that inflation will return to target within a reasonable timeframe. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.

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