The Australian Reserve Bank raised its main interest rate by 0.25 percentage points, to 4.85%, in the fifth increase this year, amid continued inflationary pressure on the Australian economy. The new level is the highest in 18 years, in a step aimed at curbing inflation and reducing price increases, but it could increase the financial burden on families and companies, especially those with variable interest rates. The Board of Directors’ vote showed a divide among members on the decision, reflecting differences in estimates about the need for further tightening of the crisis and the impact of mortgage loans on economic activity.The financial markets are looking forward to the upcoming meeting of the Australian Reserve Bank, in the midst of expectations of the potential impact of the size of the interest rates on traders, while the expected reduction of the time for
Australian interest rate rises to 4.85 percent, highest in 18 years
