The Reserve Bank has increased the Official Cash Rate 50 basis points, taking it from 2.5 percent to three
The Reserve Bank has increased the Official Cash Rate 50 basis points, taking it from 2.5 percent to three
17 August 2022
It's the seventh consecutive hike, from the record low of 0.25 percent last August.
The increase is in line with the expectations of most economists.
Further hikes are expected, as the Reserve Bank continues to work to bring inflation under control.
Reserve Bank Governor Adrian Orr is due to release his latest Monetary Policy Statement shortly.
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