Wednesday, Aug 02, 2006

Bank of Australia raises base rate to 6.0%

TerraNet: Australia hikes interest rates to six-year high

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.

Posted by webmaster @ 08:28 AM (439 views)
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