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Australia's central bank raises cash rate to 15-year peak
The Reserve Bank of Australia has raised its cash rate to its highest level in 15 years, extending its campaign against persistent inflation. Borrowers face higher mortgage repayments as lending costs climb to a level not seen in over a decade. The decision keeps Australia in line with other major economies still tightening monetary policy, and economists are watching whether further increases will follow in coming months.
Why now: The rate rise directly affects Australian mortgages and living costs, making it a major talking point for households and markets.
Reserve Bank of AustraliaAustralia
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Evidence
- Australia's central bank raises cash rate to 15-year peak · Reuters
- Australia's central bank raises cash rate to 15-year peak · Tacoma News Tribune
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