RBA’s latest rate decision unveiled
The Reserve Bank of Australia (RBA) announced a further increase in the cash rate of 25 basis points to 3.85%.
Deborah Knight discussed the RBA’s decision with Scott Phillips from The Motley Fool. Phillips shared that the RBA believes inflation in Australia has passed its peak at 7%, but it’s still too high and will take time before it’s back in the target range.
He mentioned, “Given the importance of returning inflation to target within a reasonable time frame, the Board judged that a further increase in rates was warranted today.”
Hear more highlights from Deborah Knight below: