The Reserve Bank of Australia (RBA) has made a surprise move by lifting interest rates by another 0.25 percent on May 2.
The latest round of increases takes the official cash rate to 3.85 percent, the highest level since April 2012.
A man walks past the Reserve Bank of Australia in Sydney, Australia, on June 7, 2022. Muhammad Farooq/AFP via Getty Images
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Alfred Bui
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Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
