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Statement by Philip Lowe, Governor: Monetary Policy Decision
At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 3.10 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 3.00 per cent. Inflation in Australia is too high, at 6.9 per cent over the year to October. Global factors explain much of this high inflation, but strong domestic demand relative to the ability of the economy to meet that demand is also playing a role. Returning inflation to target requires a more sustainable balance between demand and supply. A further increase in inflation is expected over the months ahead, with ... (full story)
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RBA: A Further Increase In Inflation Is Expected Over The Months Ahead
— LiveSquawk (@LiveSquawk) December 6, 2022
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RBA: Economy continues to grow slowly, expects to increase rates over period ahead -BBG
— DailyFX Team Live (@DailyFXTeam) December 6, 2022
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RBA: Board Expects To Increase Interest Rates Further Over The Period Ahead
— LiveSquawk (@LiveSquawk) December 6, 2022
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RBA: THE SIZE AND TIMING OF FUTURE INCREASES ARE DETERMINED BY DATA AND THE INFLATION AND LABOUR MARKET OUTLOOKS.
— Breaking Market News (@financialjuice) December 6, 2022
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