Australia central bank raises rates by 25 bps to 4.1%


SYDNEY: Australia's central bank raised interest rates by a quarter-point on Tuesday, taking the cash rate to an 11-year high of 4.1%, saying the hike would provide greater confidence that inflation would return to target within a reasonable timeframe.

Wrapping up its June policy meeting, the Reserve Bank of Australia (RBA) said some further tightening of monetary policy may be required to ensure that inflation returns to target.

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RBA , interest rate , inflation

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