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Lunatic RBA steers Australia toward recession with 0.5% rate hike

July 5, 2022 - 14:31 -- Admin

As expected, the Reserve Bank of Australia (RBA) has just dealt a big blow to mortgage holders, hiking the official cash rate (OCR) by 0.5%, taking it to 1.3% Below is the official statement [my emphasis]: At its meeting today, the Board decided to increase the cash rate target by 50 basis points to 1.35

The post Lunatic RBA steers Australia toward recession with 0.5% rate hike appeared first on MacroBusiness.

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