Reserve Bank of Australia raises cash rate for third consecutive meeting as governor says increases ‘are not going to do anything for inflation’ in next six months
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The Reserve Bank governor has said surging oil prices in the wake of the US-Israel war on Iran have made Australians poorer with “no way out”, after handing down an interest rate rise and warning more hikes could be needed.
A week out from the federal budget, Michele Bullock also warned inflation would get worse if governments’ cost-of-living relief was not “targeting where it’s most needed”.
Continue reading...Source: Guardian - World News
