2023-03-07 02:08:35 ET
- Reserve Bank of Australia (RBA) has hiked interest rates by 25 bps to 3.36%, in-line with forecast.
- RBA has hiked interest rate 10 times, aggregating 350 bps since May 2022, topping borrowing costs since May 2012.
- As per the earlier reports, Australia recorded 7.4% inflation in January, however the board seeks to return inflation to the 2–3% range.
- The board expects inflation to stand at 4-3/4% this year and around 3% by mid-2025.
- ETFs: EWA , FXA , IAF , FLAU
For further details see:
Reserve Bank lifts official rate to 3.60% in record tenth consecutive hike to counter inflation