Economy

Australia’s central bank says increases may slow at some point

Australia’s central bank says increases may slow at some point

SYDNEY (Reuters) – Australia’s central bank intends to raise interest rates again as it struggles to contain severe inflation, but sees a case to slow the pace of increases as interest rates approach normal levels.

The minutes of the RBA’s September board meeting on Tuesday confirmed that policy was not on a predetermined path and would be balanced to try to keep the economy afloat.

The minutes showed that “everything else being equal, members saw that the argument for a slowdown in the pace of increase in interest rates became stronger with the increase in the level of the liquidity rate.”

The central bank raised the cash rate by 50 basis points to 2.35% at the September 6 meeting, the fifth increase in several months with a total increase of 225 basis points.

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