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RBA interest rate hike live updates: economists predict 25 basis point increase to 3.35% - 7 Feb 23

– 6 Feb 2023

A leading economist has issued a warning that the Reserve Bank of Australia (RBA) could be doing “too much too late” to curb rising inflation rates ahead of their Tuesday meeting. The RBA is holding its first meeting of the year later on Tuesday afternoon where they are widely expected to hike the interest rate by 25 basis points to bring the cash rate to 3.35 per cent. Currently, the cash rate sits at 3.1 per cent, a significant leap from its pandemic low of just 0.1 per cent.

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‘Painful squeeze’ but more interest rate rises to come - 9 February 2023

– 9 Feb 2023

Households are feeling a painful squeeze from interest rate rises but the Reserve Bank has warned of more to come as it fights to bring down inflation, sparking fears Australia could enter a recession later this year.

At its first meeting of the year, the Reserve Bank board lifted the official cash rate by 0.25 of a percentage point to a fresh 10-year high of 3.35 per cent – the ninth consecutive increase since it began tightening monetary policy in May last year.

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