SYDNEY — The Reserve Bank of Australia (RBA) on Tuesday announced a rate hike for the 6th consecutive month, lifting its cash rate target by 25 basis points to 2.6 percent.
Regarding inflation in Australia as “too high”, Governor Philip Lowe noted in a statement that a further increase in inflation is expected over the months ahead, before inflation declines back towards the 2-3 percent range.
The centra
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