Key points
The RBA has increased the official rate by 0.25%.
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Macroeconomic implications
As was widely expected, the RBA has complemented the recently announced fiscal policy stimulus by increasing interest rates by .25%. The decline in interest ratesrecently has been dramatic, as the Board seeks to keep-up with the rapid rate of decline in the global economy. The cash rate has fallen by 4ppts since its peak in September 2008. the board expects further rate increase in the new year
there are expected further rate increases in the new year |
