RBA cranks up interest rates by 0.5%

- June 7, 2022 2 MIN READ

The Reserve Bank of Australia has increased the official cash rate by 0.5% today to 0.85% in an aggressive jump that’s beaten market expectations for a 0.4% increase. The rise follows a 0.25% increase following the May board meeting. Governor Philip Lowe said the board’s concerns include “significantly” increased inflation, that’s “higher than earlier expected”,… Read more »