Interest Rates Go Up
Posted
@ Nov 1st 2010 4:56pm
- By GCPN Property Network
Reserve Bank of Australia [RBA] puts up rates by 25 basis points to 4.75%
The Australian dollar surged in Asian trading Tuesday after the Reserve Bank of Australia [RBA] surprised the market by hiking its cash rate for the first time in six months.
In the decision to hike rates 25 basis points to 4.75%, the RBA said surging terms of trade are boosting national incomes "very substantially", with the outlook for inflation also expected to be stable.
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