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RBA Won’t Hesitate to Raise Rates Further, Currency Climbs
Australia’s central bank is “vigilant” over upside risks to inflation and won’t hesitate to raise interest rates further if needed, Governor Michele Bullock said, reinforcing her hawkish rhetoric from earlier this week. “I know this is not what people want to hear,” Bullock said Thursday in a speech in her hometown of Armidale in northern New South Wales. “But the alternative of persistently high inflation is worse. It hurts everyone.” In response, Australia’s dollar extended gains to hit a day’s high of 65.66 US cents. The yield on the policy sensitive three-year sovereign bond climbed from an ... (full story)
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- Posted: Aug 8, 2024 1:16am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,052
