Australia’s main bank hasactually raised its criteria interest rate for a 12th successive time to 4.1% and cautioned evenmore increases might follow
Men walk down stairs to a train station in front of the Reserve Bank of Australia in Sydney, Tuesday, June 6,2023 Australia’s main bank hasactually raised its standard interest rate for a 12th successive time to 4.1% and alerted evenmore increases might follow. (AP Photo/Rick Rycroft)
The Associated Press
CANBERRA, Australia: — Australia’s main bank on Tuesday raised its standard interest rate for a 12th successive time, to 4.1%, and cautioned evenmore increases might follow.
The Reserve Bank of Australia increased the money rate by a quarter of a portion point at its newest month-to-month conference. That followed a higher-than-expected 6.8% yearly inflation rate reported for the January-March quarter.
Reserve Bank Governor Philip Lowe stated it w