Economy

The Reserve Bank of Australia raises interest rates by 25 basis points less than expected

The Reserve Bank of Australia raises interest rates by 25 basis points less than expected

SYDNEY (Reuters) – Australia’s central bank raised its cash rate by 25 basis points to a nine-year high of 2.60 percent on Tuesday, surprising markets that bet on a bigger move, although it left the door open for more tightening ahead. .

At the conclusion of its policy meeting in October, the Reserve Bank of Australia (RBA) said that the cash rate had risen significantly in a short period of time, so it decided to slow the pace of the moves.

This is the sixth increase since May, as it raised interest rates by a total of 250 basis points. AU / INT

READ ALSO :   Swiss National Bank cuts overnight deposits by 30 billion francs

The Latest

To Top