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Australia's central bank raised interest rates by 25 basis points to a six-year high of 6.0 percent in an effort to head off inflationary pressures in a booming economy.
The widely-anticipated move by the Reserve Bank of Australia (RBA) board came after the headline annual inflation rate hit 4.0 percent following a surge in the June quarter, well above the bank's target range of 2.0-3.0 percent.
"The decision reflects the board's assessment that economic activity remains strong and that inflation pressures have increased," RBA governor Ian Macfarlane said in a statement.

Even though we are 25% above our 2.0% target (according to Gordon's special basket of goods) it appears to no longer be any cause for concern? :blink:

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And there is a modicum of panic in the mortgage belt.... oh and lots of anger.... How dare they!


I'm disappointed they didn't have the cojones to go for .5 though

Edited by wayneL

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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