Tue
5
Feb
The Reserve Bank of Australia (RBA) has raised official interest rates, following its board meeting and signalled there may be further increases to come. Overnight borrowing rates were lifted to 7.0%, from 6.75%, in a bid to temper inflationary pressures in the economy. The cash rate is now at its highest level since November 1996. Reserve Bank Governor Glen Stevens said, “In the short term, inflation is likely to remain relatively high and will probably rise further in year-ended terms,
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Tuesday, February 5th, 2008 at 2:44 pm
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