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The Australian Central Bank unexpectedly kept the interest rate at 4.1%


July, 04 2023
watermark Economic news

The Reserve Bank of Australia (RBA) on Tuesday decided to leave the key interest rate at 4.1% per annum, which was the highest value since the beginning of 2012. 


This decision came as a surprise to analysts, most of whom expected a rate hike of 25 basis points. 


At the previous meeting, the RBA has already raised the cost of borrowing by 25 bps. And since May last year, the Australian Central Bank has increased the rate by a total of 400 bps. 


The central bank's management explained that it needs more time to assess the impact of previous increases on the economy and added that inflation in Australia peaked and fell to 5.6% in May.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.