As many commentators had expected, the Reserve Bank of Australia raised the cash rate from 2.60% to 2.85% at today’s board meeting.
Recent inflation data revealed that inflation increased by a sizable 1.8% in the September quarter, after an identical 1.8% rise in the June quarter.
As a result, it’s likely the RBA will increase the cash rate again in December, in a bid to put downward pressure on inflation.
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