RBA raises interest rates for a 12th time
Luke speaks with Warren Hogan, the Managing director of EQ Economics and economic adviser to Judo Bank, following the Reserve Bank of Australia raising its official interest rate to 4.1% yesterday, the highest since early 2012.
Concerned about lingering inflation, the bank increased the cash rate target by 0.25% for the second consecutive month.
According to the latest consumer price index from the Australian Bureau of Statistics, prices rose 6.8% year-on-year until April, attributing the increase partly to statistical fluctuations caused by last year’s temporary fuel excise cut.
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