The Reserve Bank of Australia pulled another shock move, hiking the official cash rate by 50 basis points and catching experts off guard.
At the RBA’s June meeting this afternoon, the Board decided to lift the official cash rate to 0.85 per cent, marking the first back-to-back rate rise in 12 years.
Source:
https://www.news.com.au/finance/economy/interest-rates/two-words-reveal-months-of-pain-ahead-as-reserve-bank-prepares-to-raise-interest-rates/news-story/b4de685fe195b787d07e3e67073795eb
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