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Australia’s cash rate at 18 year high; What does it compare with its peers ?

On November 3rd, The Reserve Bank of Australia’s Monetary Policy Board decided by a 6-3 vote to raise the official cash rate target by 25 basis points to 4.85%. This marks a 18-year high benchmark interest rate in the Aussie economy after January 2008. Never has Australia seen such as high interest rate environment after the Global Financial Crisis.

The board looks divided over the latest rate hike, and it appears as if we are at the end of the hiking cycle.

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