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Reserve Bank of Australia’s second consecutive increase lifts cash rate target to 4.1%, back to where it was in February last year
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The Reserve Bank has increased interest rates and left the door open to further hikes, warning inflation will stay higher for longer amid war in Iran and soaring petrol prices.
The hike followed a move in February and lifted the RBA’s cash rate target to 4.1%, back to where it was in February 2025, wiping out the relief offered by two cuts last year.
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