Australians can count on extra rate of interest hikes within the coming months because the Reserve Bank says it’s going to do “what is necessary” to chill inflation.
In its Statement on Monetary Policy, launched on Friday, the central financial institution mentioned it remained “resolute” in its dedication to return inflation to its goal vary of between 2 and three per cent.
“The Board is mindful that a considerable adjustment to interest rates has already been made and that monetary policy affects activity and inflation with a lag and through different channels,” the financial institution mentioned.
The RBA raised the money fee by an extra 25 foundation factors to three.35 per cent earlier this week in its ninth consecutive fee hike since May final yr.
More to come back
Source: www.perthnow.com.au
