Salem Radio Network News Saturday, November 26, 2022

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Australia’s central bank has boosted its benchmark interest rate for a seventh consecutive month to a nine-year high of 2.85%

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Australia’s central bank has boosted its benchmark interest rate for a seventh consecutive month to a nine-year high of 2.85%

VERBATIM:

The Reserve Bank of Australia has decided on a second consecutive increase of a quarter percentage point in the cash rate at its latest monthly board meeting. That’s after four consecutive half-percentage-point hikes. Reserve Bank Governor Philip Lowe says “inflation in Australia is too high” and his board “expects to increase interest rates further over the period ahead.”

 

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