Interest Rate Rise
Posted
@ Aug 1st 2006 1:31pm
- By GCPN Property Network
The Reserve Bank of Australia [RBA] has raised the official interest rate by 0.25%, to 6% citing strong economic activity and the need to contain inflation.
The central bank said inflation pressures have increased against the background of strong international conditions.
"Given these circumstances, the board judged that an increase in the cash rate was warranted in order to contain inflation in the medium term," the RBA said
.