scorecardresearchAustralia's central bank raises rates 50 basis points to 1.85%

Australia's central bank raises rates 50 basis points to 1.85%

Updated: 02 Aug 2022, 10:15 AM IST
TL;DR.
Wrapping up its August policy meeting, the Reserve Bank of Australia (RBA) said the hike was a further step in the normalisation of policy, dropping a previous reference to removing extraordinary stimulus.
A man walks past the Reserve Bank of Australia building in the central business district of Sydney on June 7, 2022. Australia's central bank raised interest rates by a higher-than-expected half percentage point on June 7 and warned of more increases, trying to rein in significantly increased inflation. (Photo by Muhammad FAROOQ / AFP)

A man walks past the Reserve Bank of Australia building in the central business district of Sydney on June 7, 2022. Australia's central bank raised interest rates by a higher-than-expected half percentage point on June 7 and warned of more increases, trying to rein in significantly increased inflation. (Photo by Muhammad FAROOQ / AFP)